Chargeable Lifetime Transfers ("CLTs") are another important aspect of Inheritance Tax (IHT) planning. Unlike Potentially Exempt Transfers (PETs), certain lifetime gifts are immediately chargeable to IHT, meaning a tax liability may arise when the gift is made....

When someone passes away, it is often assumed that their estate must be dealt with strictly in accordance with their Will or, if there is no Will, the rules of intestacy. However, that is not always the case. In certain circumstances, beneficiaries may be able to...

One of the most important aspects of making a Will is ensuring it is properly executed. Even where a Will clearly reflects a person’s wishes, a seemingly minor mistake can have devastating consequences for the intended beneficiaries. In a recent estate administration...

Probate is rarely a quick process, but some delays are far more common than others. For families already dealing with loss, these setbacks can feel frustrating and confusing. Understanding where the bottlenecks usually occur — and how to prevent them — can make the...

One of the most common and effective ways an individual can reduce the value of their taxable estate is through making lifetime gifts, such as Potentially Exempt Transfers (“PETs”). What is a PET?  A PET arises when an individual makes a gift to another individual or...

What is Inheritance Tax (IHT)? Inheritance Tax is a tax that may be charged on a person’s estate after they die. An estate includes: · Property · Savings and investments · Personal possessions · Business interests · Life insurance not written in to a Trust In the UK...

Disagreements over inheritances are happening more often than many people realise. For some families, this comes as a complete surprise. What should be a time to come together and reflect after losing a loved one can instead turn into arguments, confusion and added...

Most people know they should have a Will – but many don’t realise what actually happens when someone dies without one. In England and Wales, this is known as intestacy, and the consequences can be both surprising and unintentionally unfair. If you think intestacy only...

Navigating probate is rarely straightforward, even in the best of circumstances. For many families, the administrative and emotional weight of dealing with a loved one’s estate can be overwhelming, and the recent changes to probate fees in England and Wales have...

When preparing a Will, much attention is often given to how assets are distributed and who the beneficiaries will be. One decision that can be just as important—but is sometimes overlooked—is the choice of executor. The executor carries the responsibility of...