DIY will writing services have made it easier for people to include so-called “wacky” terms in their wills, according to a report. The report states there has been a rise in “trust clauses” or conditions that specify how an inheritance is paid out. An early example of such a clause was the will of Frank […]Read More
A new study by the Resolution Foundation reveals that the richest members of society are twice as likely to benefit from an inheritance than the poorest. The independent think-tank, which focuses on improving the living standards of those on low to middle incomes, drew on data from a YouGov survey of more 8,500 adults to […]Read More
These days, a lot of people gift parts of their estate to their intended beneficiaries before they pass away. Her Majesty’s Revenue and Customs (HMRC) recently issued the following guidance on how to work out how much tax, if at all, you should pay on gifts. Some gifts are exempt from inheritance tax, especially those […]Read More
Only a small proportion of legal practitioners used video witnessing of wills during the lockdowns necessitated by the pandemic, the Law Society of England and Wales found. The Law Society surveyed more 720 will practitioners to gain a better understanding of the use of video witnessing wills during lockdown and whether this should be extended. […]Read More
Two sisters have found themselves locked in a bitter dispute with their father over an inheritance their grandmother intended to split between the three of them. LadBible reports that Katie and Abbie Rodgers from Darlington were close to their grandmother growing up as their mum and dad divorced when the sisters were children. Their father […]Read More
More US millennials have been writing wills in case they die unexpectedly and say the COVID-19 pandemic had spurred them on to do so, according to a recent article in the Wall Street Journal. Compared to 18 percent in 2019, more than a quarter (27 percent) of 18-34-year-olds had a will in 2021. In addition, […]Read More
The Competition and Marketing Authority (CMA) has brought in new rules ensuring that all UK funeral directors make their pricing information easily accessible for customers. The CMA new rules require directors to display pricing information, alongside an additional options price list. In the windows of funeral homes, customers will now be able to find a […]Read More
The Guardian newspaper has initiated legal proceedings challenging a secret court hearing where it was decided that there is “no true public interest” in members of the public knowing the contents of the late Prince Philip’s Will. Under British law, all wills are in the public domain to ensure that they are acted upon and […]Read More
The late DMX’s estate is a clear demonstration of the importance of taking out a missing beneficiary comfort policy, writes Danny Curran, Finders International’s CEO and founder. The NME reports that another woman has stepped forward, claiming to be the child of the late US rapper. Her claim bumps up the alleged number of his […]Read More
Only half of parents plan to leave their wealth split equally between their children, according to a new report. The findings by Netwealth and The Money Whisperer® as reported in the Mirror suggested that there is a lack of openness around inheritance that can leave bereaved families at a loss when it comes to their […]Read More
A London estate agent has blamed the low take up of wills solicitor staff shortages and the covid pandemic for the current “creakingly” slow probate process. Talking to the industry magazine, The Negotiator, Nina Harrison of the firm Haringtons said additional delays had added to the problem of buying and selling properties. An already lengthy […]Read More
Unlike in Scotland, marriage in England revokes a previous Will, meaning that vulnerable older people can become victims to what is called ‘predatory’ marriage, where they are targeted by calculating individuals who want to deprive those people’s families of the rightful inheritance. In a recent feature in the Guardian, Daphne Franks detailed what had happened […]Read More
In the last few years, the UK’s property market has boomed, nowhere more so than in Edinburgh where property prices rose by 5 percent in 2019. But what this has also led to is the title for the UK’s largest increase in inheritance tax bills, according to Scottish Legal News. The law firm Boodle Hatfield […]Read More
As death duties in recent years have increased, one million people have made gifts to charities in their wills over the past decade to reduce the amount they need to pay in inheritance tax, according to an article in the Daily Telegraph. The article says more people than ever have taken advantage of such donations […]Read More
Watch out – there are several things that can make a Will void, meaning that your wishes will not necessarily be carried out when you die. Up until the beginning of 20th century, many people didn’t have a Will because they would have considered themselves not rich enough to bother, though that changed extensively throughout […]Read More
Families are still failing to talk about inheritance, according to a recent article in the International Advisor. According to the article, inheritances should be planned for but too many families aren’t having those conversations. Speaking to International Advisor, Sue Wakefield from the financial planning company Zedra, said that the first question she asks clients is […]Read More
A judge told a father that it was difficult to imagine a more despicable crime after the court heard that the man stole his son’s £38,000 inheritance. Daniel Caulfield, 38, from Milton in South Wales appeared at Swansea Crown Court charged with fraud, according to an article on WalesOnline. Caulfield’s mother had set up a […]Read More
In the UK, the probate genealogy industry is not held in the same respect as it is by our European neighbours in France and Germany, where the verification of estates by professional firms where someone has died without leaving a will is considered vital. And yet we step back from placing probate genealogy firms fairly […]Read More
What counts as intellectual property and why do you need to consider it carefully when drawing up your Will? Willwriters.com looked into the issue earlier this year, spurred on by Colin the Caterpillar, the Marks and Spencer cake that hit the headlines when the supermarket disputed the use of its intellectual property with the discount […]Read More
A modern-day issue centres on inheritance—should you be lucky enough to receive one, what if you plan to spend it one way, but your partner has very different ideas? That was the dilemma posed by the Daily Mirror this week, taking the example of an anonymous letter sent to the Daily Telegraph where a woman […]Read More
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