Writing in Scottish Legal News, John McArthur has called for a complete reworking of the current state of taxes in the UK. “Unless the government find a simpler, easier and more streamlined system for collecting Inheritance Tax”, he states, “the system cannot cope with any increase in the number of estates subject to Inheritance Tax”.
A new report into intergenerational wealth transfer has found that over 11 million people aged between 25-45 in the UK expect to receive some sort of inheritance from their parents or grandparents, with nearly half (5.1 million) of these expecting to inherit at least £50,000 in fixed assets or money.
British adults can be secretive about their finances and many don’t even share important pieces of information with close family members, which can be problematic when someone passes away.
Acting as executor for an estate carries a great deal of responsibility, and while the majority of executries are completed without incident, complications can arise and executors can sometimes find themselves in a difficult and unexpected situation.
Dying Matters Week is taking place from 14th – 20th May this year, and to mark the occasion Royal London published new research that highlights the top five tasks people should carry out now to help their loved ones after they pass away.
The Office of Tax Simplification (OTS) has published a call for evidence and an on-line survey to gather information about people’s experience and perceptions of Inheritance Tax.
People are increasingly willingly to leave part of their estate to a charitable cause close to their heart, according to new figures released by Remember A Charity.
In an interesting case from Wales, a judge in Cardiff’s High Court has taken the unusual step of overturning a deceased man’s will to award property and some money to his long-term partner, reports the Daily Mail.
New research by Canada Life has found that as many as one in 25 people in the UK have inheritance expectations amounting to at least £1 million. For one in 50 people, these expectations exceed £5 million.
New research has revealed a lack of awareness amongst cohabiting couples of what their legal rights would be should their partner pass away.
