Succession planning for agricultural estates has become more challenging due to provisions announced in the UK 2024 Budget. The key change is the capping of Agricultural and Business property relief. What is agricultural and business property relief? Agricultural and business property relief applies to qualifying assets eligible for 100% agricultural property relief and 100% business … Read more
When someone makes a will, they place a great deal of trust in the people they appoint to carry out their wishes. Two of the most important roles in this process are those of executor and trustee. While they are often discussed together, and frequently carried out by the same individuals, the responsibilities involved are … Read more
For many people, a pension has long been seen as the sensible way to pass on wealth. Unlike other assets, pension pots sitting outside your estate meant they could be left to loved ones free of inheritance tax. It was one of the reasons financial advisers encouraged clients to draw on other savings first and … Read more
Even a carefully drafted will does not always bring matters to an end. The Inheritance (Provision for Family and Dependants) Act 1975 allows certain people to apply to the court for financial provision if a will or the intestacy rules fail to make reasonable provision for them. One practical way to reduce the risk of … Read more
Generally speaking, you are allowed to leave your assets to whoever you like in your will. There are however exceptions to this principle of what’s known as ‘testamentary freedom’. For example, certain people can make a claim against your estate if they think they have not received reasonable financial provision – irrespective of the terms … Read more
Writing a will is an important step in ensuring that your assets and possessions are distributed according to your wishes after you pass away. In the UK, there are several benefits to having a will in place. First and foremost, a will allows you to specify who will inherit your assets and possessions. Without a … Read more
Three children have won a share of their father’s £700,000 estate after a hard-fought case that reached the High Court in London. The siblings took action when their father Kenneth Grizzle died and they found they were excluded from his will. They told the court that he was illiterate and he could not have understood … Read more
Contentious probate refers to any disputes about an individual’s Estate after they have passed away. This process can be difficult for families and lead to many mixed feelings, but understanding when an estate can be contested can help answer many questions, and make a troubling time less confusing for all. What is contentious probate, and why do I … Read more
Blended families have become increasingly common in today’s society. As relationships evolve and individuals remarry or enter into new partnerships, estate planning becomes a crucial consideration to ensure the fair and smooth transfer of assets to loved ones. In the context of blended families, where there may be children from previous relationships, navigating wills and … Read more
The answer very much depends on whether you have children and whether your spouse had a valid will. That’s because if there is no will, the so-called rules of intestacy will be applied to your estate. Under these provisions your spouse will not always inherit everything. We look at how the rules affect surviving spouses … Read more
Technology has moved very quickly over the past few decades and continues to gather pace, changing the ways in which we live our lives in many different areas. Whether it’s sharing our lives, information and images on social media or using blockchain currencies, the digital landscape is an important part of many people’s day-to-day life. … Read more
Many of us have social media accounts on various platforms these days. They can be used in a number of ways, whether it’s for sharing photos or news with family and friends, keeping in touch through messaging apps or simply for finding entertaining content. However, very few people consider what might happen with their social … Read more
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