Charity legacy income expected to break records amid probate backlog reduction
The Institute of Legacy Management reports a significant surge in new legacies received by charities, marking a potential record-breaking year for legacy income. According to their findings, the probate backlog has been substantially reduced by “at least 10,000” over the past six months. Legacy Foresight, a consortium in the field, highlighted in November that around […]
UK memory clinics to trial blood tests for dementia diagnosis
Memory clinics across the UK are set to initiate trials utilising blood tests for the diagnosis of dementia, aiming to facilitate early access to care, support, and potential new drug treatments. A joint research effort by University College London and the University of Oxford will engage approximately 5,000 volunteers over a five-year period to study […]
Co-op Legal Services reports profit surge amidst strategic growth moves
Co-op Legal Services has announced an increase in profits – operating profits surged by 163% to £21 million in the year ending 31 December, accompanied by a 48% rise in revenue to £68 million. The company experienced a 20% uptick in new probate clients and a notable 37% increase in estate planning matters compared to […]
Women in Wills update
Women in Wills have been making some behind the scenes changes with the appointment of the new for 2024 Chair, Paige Gouldthorpe (Deputy Head & Court of Protection Specialist – Fosters Solicitors) and a fantastic committee to help lead and develop the membership group. We are extremely pleased to announce our new 2024 Committee: Claire […]
New guidance on applying for help with paying IHT
HMRC has published guidance on applying for a grant on credit and on recent updates to tax rules and processes relevant to trusts and estates, as posted by ICAEW Insights. It is possible to apply to HMRC for a grant on credit where a person is unable to raise the funds to pay inheritance tax […]
Later life lending “stands at a crossroads”
Later life lending stands at a crossroads as 28% of advisers seek products which bridge mainstream and later life needs suggests findings from a report conducted by later life lending platform Air. A need for products with a more flexible criteria and those that allow easier capital repayment are the types of features that are […]
FCA warns firms and ‘finfluencers’ to keep their social media ads lawful
Guidance for memes, reels and gaming streams promoting financial services has been published by the Financial Conduct Authority (FCA) last week. The FCA has set out how adverts across social media channels must be fair, clear and not misleading, meaning they must have balance and carry the right risk warnings so people can make well […]
Court of Appeal decision in Brealey v Shepherd & Co
Andrew Williams from Exchange Chambers has succeeded in the Court of Appeal in Brealey v Shepherd & Co [2024] EWCA Civ 303, a decision likely to become a leading case on the subject of the remuneration of trustees and executors. This case involved an estate mainly comprising a high value house. Shepherd & Co Solicitors […]
Bill to enable competent adults who are terminally ill to be provided with assistance to end their life in Scotland
A Member’s Bill to enable competent adults who are terminally ill to be provided with assistance to end their life has been introduced in Scotland, after garnering support from 36 MSPs, 19 of which belong to the Scottish National Party(SNP). The bill was spearheaded by MSP Liam McArthur, who will now front the push to […]
Millennials fear parents will squander inheritance, survey finds
Recent research conducted by digital wealth manager Moneyfarm sheds light on millennials’ concerns regarding their parents’ spending habits and the potential impact on their inheritance. The study, which surveyed 1,000 individuals aged 35-50 and another 1,000 aged 65 and over, revealed that 30% of adults in their 30s and 40s believe their inheritance is jeopardised […]
Funeral plan providers see market volume growth – report
Funeral provider Distinct Cremations has welcomed the findings of a new trade body that has praised the industry for adapting quickly to new Financial Conduct Authority regulations. In its first annual report, the National Association of Funeral Plan Providers (NAFPP), says its research shows sustained consumer demand for pre-planned funerals. The NAFPP survey indicates members’ […]
IDR Law works with The National Will Register to launch new legal-tech product for those unhappy with their share of inheritance
In collaboration with The National Will Register, IDR Law, inheritance dispute specialists unveil their Claim Checker, aimed at people who are unhappy with their share of inheritance. With surveys suggesting that one in three people rely on inheritance, disputes over inheritance arrangements can often occur following the death of a family member. If a client […]
Natasha Morais tragic murder case highlights the importance of helping clients protect inheritance
A 27-year-old man from Coventry has been jailed for 34 years after murdering his partner, in an attempt to procure £50,000 worth of inheritance. He wrapped her naked body in a blanket and hid it in a storage area under her bed after torturing and then killing her. Shannon Grant, who has previous convictions and […]
Upper Tax Tribunal rejects executors’ plea for PCO in GBP400,000 IHT dispute
The Upper Tax Tribunal has dismissed an appeal by the executors of an estate who sought protective cost measures in their challenge against a GBP400,000 inheritance tax (IHT) levy on the estate, as reported by STEP. In the case of Peter Linington, the deceased, he had employed an IHT planning strategy by being designated as […]
Report reveals urgent need for digital transformation in private client legal services
Legado have released a report unveiling pivotal insights into the landscape of client and solicitor interactions within the private client legal sector. According to the report, the most commonly used communication channels among Private Client solicitors are ‘Email’ and ‘Post’. However, despite the prevalence of digital communication tools, 60% of consumers encountered obstacles when interacting […]
Leadership promotions and growth across Fisher Jones Greenwood
Fisher Jones Greenwood (FJG) has promoted a number of experienced team members into senior leadership roles. The firm, which is currently based in 10 locations across Essex and Suffolk, is embarking on a period of planned expansion, having secured backing from private equity house Blixt in 2021 and becoming part of the larger Lawfront Group. […]
Probate applications reveal no major improvements, data shows
Although the recent data from the previous month revealed a generous improvement, the waiting time for probate applications has slightly gone up in the number of weeks from submission to grant issue for all probate applications – increasing from 13.6 to 13.8, according to HM Courts & Tribunals Service (HMCTS). For the 27,392 grants of […]
IHT receipts £0.4bn higher than same period last year – HMRC
HM Revenue & Customs (HMRC) data showed that Inheritance Tax (IHT) receipts for April 2023 to February 2024 were £6.8 billion, which is £0.4 billion higher than the same period last year. The increase of 6.25% means the Treasury is on course to take record receipts of about £7.54billion from IHT in the 2023/24 tax […]
Charities missing out on millions in historic legacy bequests
Inheritance recovery specialists have warned that charities are missing out on millions of pounds in legacy bequests which were overlooked by the original executors. In the past 18 months, two UK charities have received £125,000 each through the repatriation of legacy gifts – due to the work of Perane. Dozens of other charitable organisations have […]
Dedication to innovation as 7th annual awards launched with early bird rate
The British Wills and Probate Awards, dubbed ‘the Oscars of the probate world,’ returns today as plans for the 2024 ceremony ramp up. 10th October 2024 will see the return of the prestigious ceremony at Kimpton Clocktower Hotel in Manchester alongside returning Headline Sponsor CTT Group. Early bird entry is available across a refreshed list […]
