20.02.18

Research suggests 70% of individuals ‘unaware of inheritance tax nil-rate band’

Research carried out by Canada Life has suggested that a significant amount of individuals ‘do not know the threshold’ for the standard inheritance tax (IHT) nil-rate band. Canada Life found that 70% of those surveyed did not know the standard … Find out more »

15.02.18

Chancellor commissions OTS to review inheritance tax rules

Chancellor Philip Hammond has commissioned the Office of Tax Simplification (OTS) to review the UK’s inheritance tax (IHT) regime, and outline ways in which the tax can be simplified. In a letter to Angela Knight, Chair of the OTS, and … Find out more »

From the Blog

Woman rejected by mother in will wins £164k inheritance

A Hertfordshire woman cut out of her mother’s will has been awarded a £164,000 inheritance in what could prove to be a landmark ruling. Heather Ilott, of Ware, went to court after her mother Melita Jackson left her £486,000 estate … Find out more »

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Women losing the Tax-planning battle

Women lag far behind men when it comes to reducing the amount of tax they pay each year, with just 1 in 15 women taking action to reduce their tax bill compared to 1 in 5 men. Research from Prudential … Find out more »

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Lessons to be learnt from celebrity wills

Two-thirds of adults in the UK have not yet made a will, if you die without one, your assets will be divided according to the rules of Intestacy. These were updated last October, but it’s still the case that unmarried partners … Find out more »

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Will Deeds of Variation survive the new government?

The government has recently announced a consultation into Deeds of Variation over concerns that the process can be used wrongly to avoid tax. Deeds of variation have been a longstanding legal device to correct perceived mistakes and out-dated clauses within … Find out more »

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Cost of Probate set to plummet thanks to Accountants!

Last week The Telegraph published an article looking at how the cost of executing a will is set to fall after accountants, such as ourselves here at The Probate Practice, start to offer probate services. From next month, chartered accountants can apply to … Find out more »

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Probate & Will News from our Survey

If you’re a boyo in Wales, it seems as though you are more unforgiving than a bloke in London with what you are left in a will. 42% of men in Wales said they did not want to be left … Find out more »

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Probate Practice News – LPA does not legally exist until registered

The England and Wales Court of Protection has ruled that a lasting power of attorney (LPA) is legally created only when it is registered by the Public Guardian, not when it is executed by the donor. The decision – made … Find out more »

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More News from our Probate Practice Survey

Choosing someone to handle probate on your behalf seems to be no different than any other consumer purchase, with cost being the driving factor. According to a survey carried out the Probate Practice, nearly six out of ten people cited … Find out more »

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Probate & Wills Industry News Round-up

As a monthly round-up of news in the Probate & Wills industry we have selected the following articles and stories. They all show the need to stay fully up to date with legislation and news in the industry to ensure … Find out more »

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Power of Attorney – Delays in LPA Applications

There are more long delays in processing LPA (Lasting Power of Attorney) applications it has been revealed this week. England’s Office of the Public Guardian is currently taking an average of 14 weeks to process applications to register lasting powers … Find out more »

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