Inheritance tax (IHT) is charged on your death at the rate of 40% based on the value of your assets. This 40% rate is only charged on any value exceeding the nil rate band. The nil rate band (£325,000 in the tax year 2016-17) is the amount which is chargeable to IHT at the rate of 0%. From 6 April 2017, an additional residence nil rate band (RNRB) applies so that less IHT may be paid when the family home is left to children, grandchildren and some other individuals.
Choosing who to appoint as attorney is the most important part in the process of making a Lasting Power of Attorney (LPA). Your attorney will be the person making decisions about your property and financial affairs and/or health and welfare should you become incapacitated. Acting as an attorney is an important role. You should choose [...]
In all the excitement surrounding a marriage or civil partnership ceremony, one of the few issues that is often forgotten is that a will is automatically revoked when someone marries, which means that it is no longer valid. […]
If you are approaching or already in retirement and have found that your pensions, savings or shares are not worth as much as you had anticipated, then you may have considered whether an equity release plan could help. […]
You have been asked to be someone’s executor, what does this mean? When someone dies, the executor’s job is to deal with the administration of that person’s estate, including ensuring that the terms of the will are carried out. […]