inheritance tax Tag Archives - Page 2 of 2

THREE THINGS YOU MUST INCLUDE IN YOUR WILL!

THREE THINGS YOU MUST INCLUDE IN YOUR WILL! When I speak to clients about their Wills, I encounter recurring topics that I have to ask them to make decisions about. It’s natural that the same, or similar, issues come up. So, to save you some time when you come to do your own Will, here’s a list of my top three must-haves. 1.YOUR EXECUTORS The Executors are the people that will carry out your instructions in your Will. They are the people that have the legal authority to manage your estate after you die. So, it’s essential you decide who […]

Person lying in crystal clear water-toenails painted red

HAVE WILL – will travel!

Every year, as summer approaches, I wonder if the Will writing business will slacken over the holiday period. ‘After all’, I reason to myself, ‘people are on downtime, they’re relaxing with their families and busy keeping the kids entertained.’ Yet, without fail, the opposite is true.

I find that holiday preparations are a common trigger for people to call me in a panic, wondering if it’s possible to get a Will drafted before they jet off. So, far from being quiet, business tends to get a tad hectic!

Strawberry daiquiri on white sandy beach-turquoise sea-blue sky

Have Will, will travel!

Have Will, will travel! AN ESSENTIAL ITEM TO ADD TO YOUR HOLIDAY CHECKLIST – HAVE YOU GOT A VALID WILL? Picture the scene: you’re packing for your holiday. You’re excited and can’t wait to get away from it all. Your sojourn in the sun, sightseeing in the city or swooshing down the slopes is almost upon you. It’s quality time for you and your family and it’s great to all be getting away together for some R&R. So, you’d think that, in this flurry of pre-holiday activity, having a valid Will in place would be the last thing on people’s […]

The new inheritance tax allowance and how it affects you

The new inheritance tax allowance and how it affects you The Residence Nil Rate Band Allowance What is it? The Residence Nil Rate Band (RNRB) is a new allowance for inheritance tax that came into force on 6th April 2017. It’s an additional inheritance tax-free amount that certain individuals can use alongside their existing Nil Rate Band (NRB) allowance. How does it work? At the moment, everyone has an NRB allowance of £325,000. This means that when you die, if the value of your estate, and any gift made within seven years of death, is below this amount, there will […]

Writing a Will: It’s not as hard as you think

WRITING A WILL: IT’S NOT AS HARD AS YOU THINK In my 12+ years as a solicitor, I drafted Wills most days. My clients came from all walks of life and came with different personal and financial circumstances. Because I’ve had so much practice at drafting Wills, they’re second nature to me. I do though understand that it’s not the same for you. But trust me – you don’t need to feel that writing a Will is frightening or difficult. Yes, it’s true that some Wills need to have trusts and other special arrangements for families. But for most people, […]