CRAG Rules to be replaced by Care Act 2014
From 1st April 2015, the Charging for Residential Accommodation Guide (CRAG) will cease to exist and rules set under the new Care Act 2014 will be enforced instead. This is likely have an impact on the way will writing clients handle their plans for the future, and will vary from region to region. The Department […]
FCA speech to NAPF
The Financial Conduct Authority’s (FCA) Martin Wheatley has today highlighted the organisation’s responsibility to protect pension savers ahead of the new pension freedoms in April. Speaking the National Association of Pension Funds investment conference in Edinburgh Martin Wheatley said: “There is rightly, a broad and important responsibility here on the FCA to protect consumers across […]
Time to carry out probate – how long is too long?
How long is too long to handle probate? In a recent case, a British widow was subjected to the shock of being landed with thousands of pounds worth of mortgage debt — some six months after her husband’s death. Mrs Derbyshire has told reporters that being a Woolwich and Barclays customer has been more of […]
Will they, or won’t they?
As part of their #useaprofessional campaign aimed towards consumers, The Law Society have created an infographic featuring the key points will writing clients need to be aware of. Have they included all the integral information? Will this improve the knowledge of current and prospective clients? Handy guide @lawsocietyfas for making a will http://t.co/GbD0BDUSZb. Our […]
There’s no escaping the Taxman!
A Labour government would push for UK overseas territories to be put on an international ‘blacklist’ if they refuse to co-operate in the drive against tax avoidance. Ed Miliband recently stated “Billions of pounds are being lost in tax avoidance. Today we’re serving notice on ‘tax havens’ linked to Britain that they must open their […]
FCA publishes consultation on pension transfers
The Financial Conduct Authority (FCA) has today published a consultation paper on proposed changes to its pension transfer rules, designed to reflect the Government’s new flexible pensions regime. The FCA already regulates advice on transfers to personal pensions. The Government’s new regime will bring advice on transfers from defined benefit (DB) schemes to occupational defined […]
Banks v Goodfellow test is still the relevant test for mental capacity over a hundred years on
A landmark inheritance case that went all the way to the High Court confirms that the correct test for mental capacity, when making a will or looking to contest one, is that in the 1870 case of Banks v Goodfellow and not the subsequent test set out in the Mental Capacity Act 2005. Following the […]
New digital system for LPAs a complete anti-climax?
Around 300,000 Lasting Power of Attorney (LPA) applications are reportedly made each year. Conversely, it appears that only a token proportion of these applications are done using the Government’s new flagship online application process. The digital version was launched in May 2014 with the aim of consolidating the LPA application process into a simpler step-by-step […]
FCA and DWP publish call for evidence on transaction costs
The Financial Conduct Authority (FCA) and the Department for Work and Pensions (DWP) have today published a joint call for evidence on the disclosure of transaction cost information for workplace pension schemes. From April this year, Independent Governance Committees (IGCs) and pension scheme trustees will be required to report annually on the costs and charges […]
