Wills & Inheritance Tax Most common misconceptions of wills revealed
19/01/2010
Previous research by the Fellowship of Professional Willwriters and Probate Practitioners found that many people are yet to write a will, with one of the key reasons being a lack of understanding of the law. So what are the misconceptions?
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Write a Will Week: expert legal and financial advice in a Webcast on 27th October at 1pm.
The complexities of modern family life makes having a valid will even more important. Writing your will is the best way to ensure your estate is passed on exactly as you wish in the most tax efficient manner – and this is why independent legal and financial advice should be sought.
Need a will? The BBC would like to help you write one... for free!
Have you got a valid will? If so, you’re in the minority. Every day, over 1,500 people die in the UK, and more than 70% of them die without a legally valid will – a truly shocking statistic, which can lead to conflict amongst the remaining family.
Now one of the country’s leading businessmen, Sir Gerry Robinson, wants to help change that. Assisted by expert legal advisors, he will help people to write their wills for a major new BBC2 series.
Time to make your will - on TV!
Thames TV are making a programme about the subject of inheritance. It will primarily be a celebration of modern family life, and especially the issues around writing a will - and they are actively looking to talk to people who have been putting off writing their will, or whose will is very out of date.
One way to avoid an IHT bill on a second property
A firm of wealth management lawyers, is advising clients worried about a 40% IHT bill on their holiday homes to consider giving them away now and paying rent to their heirs to use them.
Elderly sisters lose European appeal against inheritance tax liability
Two elderly unmarried sisters who appealed against a ruling by the European Court of Human Rights (ECHR) that they should be liable for inheritance tax when the first of them dies have lost their appeal. "This is a day we hoped that we, as British citizens, would never see," they said.
Leaving a legacy? Then visit this site
A man who spent over 27 years working in charity legacy offices has set up a uniquely informative - and amusing - website to help people who wish to leave legacies to their favourite charity. Patrick Wise, now retired, decided to create the site after learning from experience just how many people fail to make a will, thereby failing to make the best gift of all - a legacy.
Do you know about the new change in powers of attorney?
Sara Rogers of Clarion Solicitors explains the changes which have just come into force.
The new IHT rules: what you need to know
Alistair Darling has now presented his first Pre-Budget report, and, as expected, it included some significant changes, notably to the Inheritance Tax (IHT) and Capital Gains Tax (CGT) regimes. Chris Budd considers the implications.
Tories: "We'll put Inheritance Tax threshold at £1 million"
Shadow Chancellor George Osborne has promised to slash inheritance tax and stamp duty in a keynote speech at the Economic Competitiveness debate in the Conservative Party Conference.
Join our webchat on IHT next Tuesday
Young or old, super-rich or just ‘an average householder’, if you own a property then, sadly, inheritance tax (IHT) is something that will affect you. What’s more, because of rising house prices it is something that is affecting us more than ever before.
Join us for our live webchat next Tuesday to find out how you can prepare for the future.
"Treasury waiting for us to pop our clogs"
As the first wave of the 17 million baby boomers born between 1945 and 1965 prepares for imminent retirement, a financial consultancy is warning that inheritance tax looks set to stay in place – with the Treasury reaping billions of pounds every year.
Where there's a will..
A frightening proportion of people have not made a will. What's stopping them? And what are the implications for their family if they don't? By Tony Watts.
New warning over Inheritance Tax
Despite the rise in the nil-rate Inheritance Tax (IHT) threshold to £300,000, almost 9.4 million homeowners will still have an estate liable for a 40% tax bill on their death, according to new research from the Scottish Widows IHT index.
Giving away the family home
Giving away the family home to the next generation is something that many people consider, as a way of reducing potential inheritance tax.
However, this is frought with difficulties both for the parents giving the property away and for the children receiving a share in their parents’ home.
