Inheritance Complications In Bitcoin’s Wild West
Due to the lack of legislation and regulatory concern regarding how bitcoins are passed on to beneficiaries following an investor’s death, it is estimated that 3.7 million bitcoins have been lost. At the current exchange rate, this is worth up to £18.5 billion. Although cryptocurrency has seen erratic fluctuations over the past decade, it continues […]
Professionals 2019 Hot Topic Predictions for Wills and Probate
2019 is underway and is set to be a very busy year due to the uncertainties surrounding Brexit and the impact it will have on the industry as a whole. But what will be the main topics of conversations this year? Before 2018 came to an end, Today’s Wills and Probate predicted what might be […]
Parliamentary Committee Just About Vote In Probate Fee Changes
The fourteenth Delegated Legislation Committee sat yesterday to consider the case for the statutory instrument that will change the current non-contentious probate fees from a fixed amount to a sliding scale. The committee voted in the proposed changes to probate fees by eight votes to nine. This was the final stage in the process that […]
The Importance Of Using Webinars To Enhance Your Marketing Potential
The legal services sector is currently working through a technology revolution. The sector is looking at the various ways technology can be used to improve the customer experience and create a more efficient process. Similarly, the ways a company are able to market their business and train their staff has also changed considerably in recent […]
The NEW CTTC Ltd Gift Trust – Gift As Much As You Want!
Your clients can now gift as much as they want to the Countrywide Family Gift Trust without triggering a Trust entry charge, periodic charge or exit charge! Register for our FREE Supermen Webinar to learn more about: The new Countrywide Family Gift Trust that has no limits as to how much can be settled in… […]
The Increasing Importance of Trusts In Estate Planning
Recently, HM Revenue and Customs released their taxation receipts for 2018/19. Amidst the parade of extremely large numbers stood the bold figure that Inheritance Tax contributions had surpassed £5.2 billion for the first time. The figures also highlighted that revenue from Inheritance Tax (IHT) has continued to rise since 2010, with this year’s £400 million […]
2018 A Year In Review – The National Will Register
2018 signified over a decade of service provision to the Wills and Probate Profession by the National Will Register. It was another progressive year where the number of Wills registered again grew significantly and the amount of unknown Wills being discovered through a Certainty Will Search also increased and continued to provide unprecedented protection for […]
Vulnerable People Saved From Fraud By Improved Banking Protocols
Following the retraining of bank staff to spot potentially fraudulent activity or customers that appear to have been targeted by fraudsters, an estimated £48 million has been prevented from reaching unscrupulous criminals according to UK Finance. The new banking protocols, introduced in October of 2016, ensured that staff were confident and adept at spotting signs […]
Probate Fees Amendments Reviewed By Parliament
The fourteenth Delegated Legislation Committee are sitting today to consider the case for the statutory instrument that will change the current non-contentious probate fees from a fixed amount to a sliding scale. Whilst the Lords, various charitable organisations and The Law Society stand united in their opposition of the proposed fee amendments, it is likely […]
Clive Ponder Discusses Industry Events, Sponsorship, And Electronic LPA Signatures
Delegates who recently attended Today’s Wills and Probate round table were made up of an expert array of legal firms and professional organisations from the sector seeking to tackle relevant and contemporary issues as well as potential challenges that lie ahead. Among the attendees who contributed to the success of the round table were Countrywide […]
OPG Launch New Public Online LPA Search Facility
The Office of the Public Guardian (OPG) has issued a practice note providing information on a new online facility for members of the public to search its registers to find out if a person in England or Wales has an attorney or court-appointed deputy acting for them. The practice note, PN11, highlights that the Public […]
The Nation’s Naivety Around Lasting Power Of Attorney
Millions of adults are under the impression that, if they were to lose capacity, their loved ones would have the immediate right to make decisions regarding their life, whether they be medical or financial. The research, by Direct Line Life Insurance, has revealed that 80% of British adults believe that the person they assume will […]
Expert Updates On New Online Probate Service Pilot
Ian Bond, Chair of The Law Society’s ‘Wills and Equity Committee’ and Director and Head of Trusts and Estates at Talbots Law, had a productive meeting with the Ministry of Justice (MoJ) recently regarding the pilots of new online probate services for personal and professional applicants. The trial of HM Courts and Tribunals Service (HMCTS) […]
HMCTS Announce New System Which Alerts Charities To Will Bequests
HM Courts and Tribunals Service (HMCTS) is implementing a new system, which alerts charities when money has been bequeathed, after ending their current arrangement. The reason behind terminating HMCTS’ current scheme with private firm, Smee and Ford, which has provided a paid-for notification service to participating charities for many years, was because “it is not […]
A Question of Succession
I recently attended the Solicitors Regulation Authority (SRA) Compliance Officers conference at the ICC in Birmingham and in one of the breakout sessions “Succession Planning” was hotly debated. In recent years the question of succession planning and run-off insurance is being asked of me more and more, particularly by law firms in the four partner […]
Older Borrowers Brings A Suite Of Retirement Interest Only Mortgages
Leeds Building Society has officially launched their suite of ten-year retirement interest-only (RIO) mortgages and made some criteria changes to provide greater flexibility to senior borrowers. The new products include a free standard valuation and a £999 product fee. To meet the product criteria, customers will need to be aged between 55-80 when applying and […]
Inheritance Tax Payments On The Rise – £5 Billion Paid In 2018
According to the most recent statistics by HM Revenue and Customs (HMRC) Inheritance Tax (IHT) receipts hit a record high of £5.2 billion in 2018. This is an increase of £400 million on the figures from a year earlier. Receipts for the six month period between April and December found that the IHT paid was […]
