Make a Will Online wins Prestigious Award at Smee & Ford Legacy Giving Awards 2024
Make a Will Online has announced its victory in the “Best Strategic Will Provider” category at the Smee & Ford Legacy Giving Awards 2024. This prestigious accolade recognises Make a Will Online’s innovation in providing accessible and reliable solutions for will writing, marking a significant milestone in the company’s journey towards transforming the landscape of […]
UK faces looming dementia crisis without diagnostic overhaul
A report warns that over half a million individuals with dementia could slip through the diagnostic net in the UK by 2040 unless significant changes are made to detection methods, as reported by The Telegraph With regulators evaluating drugs to slow Alzheimer’s progression, the NHS gears up for potential rollouts. However, the efficacy of drugs […]
TA v The Public Guardian 2023
In this instalment of our ever-popular ICYMI series, we take a look at TA v The Public Guardian [2023], a case that came about due to a challenge by the Office of the Public Guardian (‘OPG’) as to the validity of LPAs for both Property and Financial Affairs and Health and Welfare (‘the LPAs’). They […]
SRA review to take place after West Yorkshire law firm went into administration and 200 workers made redundant
After a West Yorkshire law firm went into administration in January The Legal Services Board (LSB) has announced an independent review of the Solicitors Regulation Authority’s (SRA) regulatory actions in the lead-up to the collapse of SSB Group. It was revealed in the national news that scores of former clients have been left grappling with […]
HMRC publishes extra guidance on lifetime allowance abolition
HMRC has published additional guidance for pension scheme administrators on a range of issues, including the abolition of the lifetime allowance. HMRC provides further guidance on the abolition of the lifetime allowance (LTA) in the latest issues of the pension schemes newsletter. This includes answers to more frequently asked questions (FAQs). HMRC has circulated a […]
Labour to close non-dom IHT loophole
Rachel Reeves, the shadow chancellor, is set to announce Labour’s plan to close an inheritance tax loophole for non-domiciled individuals and target tax avoiders to fund investments in schools and the NHS, as reported by The Telegraph. This move aims to address a funding gap created when the Tories scrapped the non-dom tax regime. Labour’s […]
New leave entitlement supports unpaid carers balancing work and long-term care responsibilities
Pregnant women and new parents will now receive special treatment in a redundancy situation, as a suite of new laws are introduced – delivering the Government’s plan to support families and back hardworking Brits. New laws will protect workers by strengthening existing redundancy protections to cover pregnancy and a period of time after parents return […]
Women’s pension pots ‘worth half of mens’
Women’s pension savings in the UK have been found to lag behind that of men, a recent study shows. With the average pension pot for women standing at £37,000. The comparison with male pensions find women’s savings are dwarfed, with men’s pensions average around £75,000. It was also found that men are ‘more likely to […]
Cybersecurity resilience is a ‘must for the modern legal landscape’ after Australian law firm data leaked
In January and February of 2023, cybercriminals targeted six law firms with the GootLoader and FakeUpdates malware. In the same year, the Australian commercial law firm HWL Ebsworth experienced a ransomware attack, where Russian-linked hackers claimed to have accessed sensitive client information and employee data. It was reported in May by the Australian Financial Review that hackers […]
“State of the Nation” Summit returns in May
An evening designed to foster discussion and debate on the current opportunities and challenges facing the will writing, probate, tax, trusts and estate planning community returns on 8th May following its successful return in 2023. Tickets are available to purchase via the links below. The Today’s Wills and Probate “State of the Nation” summit brought […]
Scotland’s Trusts and Succession Act comes into force with amends to the hierarchy of succession
On Friday, Scotland’s new Trust and Succession Act came into force after a bill was debated in parliament last year. The bill was passed and finalised in January – and amends the traditional hierarchy of succession, giving weight to a couple’s separated status. The new Act will now change the law on intestate succession in […]
Estatesearch Launches in Canada
Estatesearch has launched in Canada and will now offer asset and liability searches and Will Data Management services to Canadian legal firms. Jonathan Upton, Director, Estatesearch confirmed that the Canadian probate process is “broadly similar” to that of the UK and Canadian lawyers “often face similar challenges to their British counterparts in relation to establishing […]
Report on state pension age raises possibility of compensation for affected women
A report set to be published could bring compensation for women impacted by the rising state pension age as the Ombudsman’s investigation has focused on potential injustices stemming from aligning women’s retirement age with men’s, a decision that left many financially strained. While the ombudsman can advise on compensation, enforcement remains outside its scope. Campaigners, […]
Tribunal refuses to grant PCO after testator appointed reversionary beneficiary of a trust holding £1M
Testator Peter Linington had used an inheritance tax(IHT) planning arrangement under which he was appointed reversionary beneficiary of a 150-year Isle of Man discretionary trust holding £1M in cash. The trustees were to accumulate income in this trust and pay any surplus to the income beneficiary while the reversionary beneficiary would become entitled to the […]
Law firms remain resilient in tough economic times – The Law Society
Against a tough economic backdrop and with the cost of living rising sharply, law firms saw profits go only marginally down, according to the Law Society’s Financial Benchmarking Survey that provides an overview of the financial performance of the legal sector. The research shows that profits per equity partner continued the pre-COVID trend, with median […]
Younger generations want to retire earlier and ‘may be on track to do so’, research reveals
Younger generations are redefining their financial ambitions and aiming to retire earlier than older generations, according to new research commissioned by Brown Shipley. The average age of planned retirement for wealthy individuals in the UK is 63, but this decreases for younger generations, with 18-34-year-olds aiming to retire at 58. According to the results of […]
Inheritance Tax: Grant on Credit guidelines and procedures
The law requires Personal Representatives (PRs) (IHTM05012) to pay all or part of the Inheritance Tax (IHT) due on the deceased’s estate before they can obtain a grant. The guidance at IHTM05001 and IHTM30172 explains how much needs to be paid. If the PR: finds it impossible to raise all the funds needed to pay the tax due and […]
Research shows just one in 10 UK students had received a lesson on the law by the time they reached A-Levels
The Law Society is supporting education charity Young Citizens’ campaign The Big Legal Lesson to introduce the law and justice system to thousands of children and young people across England and Wales. Young Citizens research shows just one in 10 (13%) students had received a lesson on the law by the time they reached A-Levels. […]
Collaboration in philanthropy – Working together in the legacy sector
A series of speakers will present at a legacy collaboration event hosted at Winchester Cathedral on 24th April 2024. ‘Collaboration in philanthropy – Working together in the legacy sector’ is aimed at increasing understanding between charity beneficiaries and the legal sector; improving key relationships, finding efficient and effective ways of working together and hearing more […]
IHT dilemma: The Times reveals absurdity in probate process
In a recent article, The Times sheds light on the convoluted and costly process of handling someone’s estate after death, particularly the intersection of probate and inheritance tax (IHT) regulations. While the child benefit system undergoes overdue reforms, The Times draws attention to the perplexing dynamics surrounding property-rich, cash-poor families caught in a probate-IHT loop. […]
