People setting up Lasting Powers of Attorney (LPAs) to protect their interest in case they lose mental capacity in the future should be given as much scope as possible to outline their wishes. However, an instruction that their attorney – the person they appoint to look after interests – should help them in an assisted
Chancellor Philip Hammond surprised political commentators by producing what’s been described as a “giveaway budget” featuring tax cuts and increased public spending. While many people will welcome the increase in personal tax allowance and extra funds for services like the NHS, there was also some disappointment that there was no increase in inheritance tax allowances
Two sisters have been ordered to pay their dead father’s partner £325,000 from his estate, worth approximately £1m. The court heard that James Redmond had made a will 20 years ago leaving everything to his two daughters. However, since making the will he had formed a relationship with Carole Anne Taylor after meeting her at
Lord Lexden wants a change in the law to allow siblings who live together to have the same inheritance tax exemption as married couples and people with civil partnerships. Inheritance tax is set at 40% and becomes payable once the tax-free threshold of £325,000 has been passed. The exemption for married couples and civil partners
Most people in the UK are putting their future well-being at risk by neglecting to make legal preparations for their old age, according to a new report. The research shows that Britain is experiencing a ‘dementia crisis’, with an estimated 13 million people unprepared for the possibility that they may be suffering from some form
The High Court has settled a dispute between four siblings who couldn’t agree over the sale of their parents’ house. The issue arose after the parents died having left their family home in equal shares to their four children. The parents had expressed a wish that if one the children wanted to continue living in
Two sisters have been allowed to correct an error in a family trust that would have prevented them from benefiting in the way intended when the document was drawn up. The sisters were aged 58 and 56. When their mother died in 2005, they had inherited equally her 50% share of the house that she
A wealthy businessman has left millions to the charity Oxfam after inserting a common tragedy clause into his will. Richard Cousins died along with his two sons, his fiancé and her daughter when their plane crashed in Australia on New Year’s Eve. Mr Cousins, who was the chief executive of the Compass Group, had made
A new law to protect the interests of vulnerable people in care is expected to be in place early next year. The Mental Capacity (Amendment) Bill will replace the current system known as ‘Deprivation of Liberty Safeguards’ (DoLs). DoLs are assessments currently carried out on people who do not have the mental capacity to make
The High Court has corrected an error in a trust to make it effective and ensure that it provides the intended tax benefits. The case involved the family of a woman who during her lifetime made three settlements of shares. The beneficiaries were her three children, their heirs and four charities. There were four trustees