A businessman has failed to overturn his father’s will, so he could inherit farming land and other substantial assets. The High Court heard that the father had built up a farming and haulage business during his working life and acquired several parcels of land. The son worked for the business and lived for free in
The main residence inheritance tax allowance has by risen £25,000, reducing the death duty burden for thousands of families. The allowance was introduced in April last year and was set at £100,000. In April this year it rose to £125,000 and will rise to £175,000 by 2020. It only applies to a person’s home, not
A woman has been granted an interim instalment from the estate of her deceased husband to ease her financial struggles. The woman had been married to a wealthy businessman. When he died, she sought to administer his estate. However, the deceased man’s son from his first marriage began proceedings to replace her as the administrator.
The government has announced it’s providing a £300m fund to help the 10 million Britons alive today who can expect to live to 100 or more. The extra money will include grants for research into age-related illnesses such as dementia. The ‘healthy ageing programme’ will drive the development of new products and services to help
A 91-year-old man has won a longstanding legal battle to be allowed to buy the home he shared with his partner. The couple had lived together in the home for 20 years. After the partner died, the man discovered she had made a will leaving all her estate to her daughter and nothing to him.
A review of inheritance tax thresholds could make it easier for parents to give their children money to buy a home, fund their education or set up a business. Currently, the maximum sum that can be gifted tax free is £3,000 a year. Any additional funds are subject to 40% inheritance tax if the donor
The Ministry of Justice (MoJ) has started giving refunds to people who were overcharged when setting up lasting powers of attorney (LPA). It has set aside £90m to cover the cost of the refunds. Between April 2013 and March 2017, the operating costs of the Office of the Public Guardian (OPG) came down as more
Nearly two out of three adults in Britain do not have a valid will, according to a survey carried out by MacMillan Cancer Support. The charity surveyed more than 2,000 people and found that 63% had not made a will, including 42% of people over the age of 55. The survey also uncovered various “will
A man who looked after his mother in the years before her death has been removed as an executor of her will following legal action by his two brothers. The man was the woman’s younger son. He had lived with her and cared for her, along with two full-time carers, for several years. He continued
Entering a New Year is always a good time to take stock…of our careers, our work and, of course, our lives in general. At the centre of it all must be our families; everyone wants to protect their loved ones, both now and in the future. There are many ways to do this and the