The Benefits of Registering Your Will
Creating a Will is one of the most important steps in securing your family’s future and ensuring that your assets are distributed according to your wishes after your death. Few people appreciate the importance of registering your Will after it is created. Despite...
PAYING FOR THE RISING COST OF CARE
According to Age UK, the current average cost of staying in a residential care home is around £800 to £1,078 a week. These costs are average figures and can vary depending on the type of care provided and the location of the residential care home. It is estimated that...
£400 Million Increase in Inheritance Tax Payments
As per HM Revenue & Customs, the total Inheritance Tax (IHT) receipts from April 2023 to September 2023 amounted to £3.9 billion, marking a £400 million increase compared to the corresponding period in the prior year. June 2023 recorded the highest-ever IHT...
Addressing Recent Headlines on Inheritance Tax Changes
In light of the uncertainty surrounding the future of Inheritance Tax, it is essential to familiarise yourself with the existing tax regulations when engaging in estate planning. Under the current system, Inheritance Tax may be applicable on four occasions: Upon an...
What happens when someone dies without a Will?
From 26 July 2023, the Government has increased that Statutory legacy amount to £322,000 which has been prompted by inflation.