A Reprieve on Grant of Representation Fee

11/06/2020

The Secretary of State for Justice, Robert Buckland has announced that threatened plans to significantly increase probate fees have been scrapped

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The Residence Nil Rate Band: who wants to be a millionaire?

11/06/2020

It’s the topic nobody enjoys thinking about but in the words of Benjamin Franklin, "nothing can be said to be certain, except death and taxes". In fact, taxes are so certain, they follow us beyond the grave. For example, for many, our biggest asset is our home and will be the most substantial gift we can leave to our loved ones. Unfortunately with the increase in property values, it is often the case that if you are leaving your property to a loved one, other than your spouse who can benefit from the spouse exemption (see our article Ken Dodd’s Last Laugh), they could be met with a whopping inheritance tax bill.

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Lasting Power of Attorney refund scheme

11/06/2020

Following a consultation by the Ministry of Justice, it has been decided that the Office of the Public Guardian (OPG), with whom Lasting Powers of Attorney (LPA) must be registered before they can be used, overcharged registration fees between April 2013 and March 2017.

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“Where there’s a Will, there’s a way”...

11/06/2020

... but only if that Will is valid! This month, a woman walked out of the Court of Appeal with the entire fortune of her late husband, despite a Will written in 2012 only leaving her £15,000 and the rest to his son and grandson. The 2012 Will was not executed correctly and therefore was not binding, and as a result his estate passed in accordance with the terms in his previous Will, written 15 years earlier.

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Executor on the Hook

11/06/2020

A recent case in the First Tier Tax Tribunal is attracting attention in the press. Under images of a tropical paradise unfolds the story of a personal representative who may be left personally out of pocket to the tune of £340,000 after a beneficiary left the country for Barbados with the estate’s funds.

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Blood runs thicker than water

11/06/2020

Families can be complicated and the rise in “blended families” introduces a modern strain to the existing hurdles of life. The term “blended families” roughly translated means families consisting of a couple and their separate children from prior relationships. Whilst very common in today’s society, what happens when the bank of mum and dad becomes the bank of step-mum and dad? What happens when step-mum isn’t as keen to provide towards her step-daughter’s university fees? What happens when step-dad does not want his estate to be shared between his wife’s family?

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