STEP launches new practitioner guide on responsible wealth stewardship
STEP, the worldwide professional association for practitioners who advise families across generations, today launches a new guide for advisers on the responsible stewardship of wealth in a changing world. Family Dialogues on the Responsible Stewardship of Wealth: A Guide marks the start of a discussion among STEP members and the wider advisory community on responsible […]
Is now the time for compulsory bonds protecting against mismanagement of Powers of Attorney in Scotland?
The benefits of Power of Attorney (PoA) are well-documented. Its limitations and risks perhaps less so and, unfortunately, meaningful solutions are not readily discussed. Most negative perceptions associated with PoA – that it is open to abuse and misuse – only apply in a small minority of cases. By far the bigger problem is inadvertent […]
FREE Webinar: ID and AML Checks for Wills and Probate
A FREE WEBINAR from Lawyer Checker for private client teams: ID and AML Checks for Wills and Probate We work with private client departments across the country to help them ID clients and beneficiaries. Our solution uses facial recognition and cutting edge document reading technology to match clients and beneficiaries to their ID documents in a […]
SRA extends post run off cover ahead of consultation
The Solicitors Regulation Authority (SRA) has decided to extend the Solicitors Indemnity Fund (SIF) by a further year in order to allow consultation on the future of post six-year run-off cover. The extension is subject to an affordability test because the fund is, in economic terms, now deemed beyond the time when a conventional insurance […]
Calls to change predatory marriage law backed by families
Families who have fallen foul to predatory marriages have backed calls for changes to the law. The issue was brought up by Leeds North East MP Fabian Hamilton during Prime Minister’s Questions. The PM thanked Mr Hamilton for highlighting the injustice suffered by these families and said he would secure a meeting with the justice […]
Free webinar: How historical events can impact probate genealogy
Join Title Research’s experienced Technical Manager, Simon Barber, for their upcoming webinar on Wednesday 16th June at 12pm. In this session, Simon will illustrate how genealogy today is impacted by historical events and will cover: A selection of case studies How genealogy can help resolve apparently complex family relationships How insurance can be used to […]
Legal regulators must better understand the impact of diversity programmes
The Legal Services Board (LSB) urges legal regulators to do more to understand what is and is not working to improve the diversity and inclusion in the sector and focus on what is making a meaningful difference for professionals and consumers. This follows the LSB’s publication of the independent report it commissioned from the Bridge […]
What to do when someone dies and how COVID-19 has changed processes
Kings Court Trust’s latest blog aims to educate your clients on the steps involved when a loved one passes away. Whilst the introduction of The Coronavirus Act 2020 has simplified various processes, other tasks that need to be considered when someone passes away have experienced delays and ongoing restrictions. Unfortunately, this has contributed to making […]
Professional indemnity insurance policies must provide clarity on cyber-related risks
The Law Society has today voiced its support of the Solicitors Regulation Authority (SRA) as it consults on proposed changes to the minimum terms and conditions (MTCs) for professional indemnity insurance (PII) policies so they’re clearer on cyber-related risks. The SRA’s consultation response is in reaction to demands from the insurance industry for PII policies […]
Faster uploading of ID photos, documents and videos
We’ve updated Alpha Legal so that ID photos, documents and videos all upload much more quickly This change also helps clients with slower Internet speeds who, previously, may have not waited for their form and ID documents to upload before cancelling and trying again. Plus Alpha Legal users and their clients have never liked the timers that encouraged forms […]
Website Transparency – Haven’t we done this already?
As part of our ‘Technical Corner’ we want to bring you information that will help you to continue to learn and grow in your career. This month’s technical corner article comes from Amy Bell, Director of Teal Compliance. We have seen an increase in the enquiries we have had about compliance with the Transparency Rules. […]
What will happen to Prince Philip’s multimillion pound estate?
Kings Court Trust’s latest blog explores the possible outcomes of the Duke of Edinburgh’s multimillion pound estate. The United Kingdom went into national mourning last week as the news broke that His Royal Highness Prince Philip, Duke of Edinburgh, sadly passed away on Friday 9th April 2021 at the age of 99. A question that […]
Government reacts to CMA’s funeral market investigation
The Government has responded to the Competition and Markets Authority’s (CMA) market study into the funeral sector. In their response, the Government “recognised the issues raised by the CMA’s market investigation report”. The response said: “The funeral sector, in one form or another, has provided a valuable service to the country for centuries. The funeral […]
Government Tax Day delivers probate simplification
Around 200,000 executors and beneficiaries of estates will no longer have to complete inheritance tax (IHT) forms because of changes announced in the Government’s first ‘Tax Day’. ‘Tax Day’ is a newly introduced date in the financial calendar and fell on 23 March this year. Its purpose is to reveal consultations on future tax changes, […]
New requirement for an independent AML audit from the regulators
On the 20th January 2021 the LSAG published new Anti-Money Laundering Guidance for the legal sector which states that ‘The practice must conduct an independent audit of the adequacy and effectiveness of its AML policies, controls and procedures’. Legal Eye offers an audit service to fulfil this requirement. The audit report summarises an evaluation of […]
Mum’s the Word
This article was written by Claire Miller from Langton Genealogy. Good news for Mum’s in the week following Mothers Day Finally, Mums will be able to have their names included on marriage certificates, in the first change to the law since civil registration began, during the reign of Queen Victoria, in 1837. The change comes […]
Personal Representatives – Protection and Relief from Liability
Personal representatives are exposed to liability in several situations. In this short article I will describe how personal representatives can protect themselves from liability. Claims of unknown beneficiaries/creditors A personal representative can face a claim from an unknown beneficiary or creditor after the distribution of an estate. To protect themselves personal representatives should always consider […]
LSAG AML Guidance for the Legal Sector 2021 – what does it mean for Risk Assessment, Due Diligence and Training?
CPD accredited firm Fraser and Fraser invite you to attend ‘AML Guidance for the Legal Sector 2021′ Legal Eye’s Senior Compliance and Regulatory Specialist, Norman Denton, discusses the latest Anti Money-Laundering Guidance and what it means for law firms. Norman will look to give firms guidance as to what they may need to address and why, […]
Updated Practice Guides: PG9
There has been update published in the following practice guide: Powers of attorney and registered land (PG9) Page summary: Advice on the evidence that HM Land Registry needs when an attorney has executed documents lodged for registration (practice guide 9). Change made: Section 1 has been amended to include reference to practice guide 78 where […]
FREE Webinar: A Review of the Updated LSAG AML Guidance
If you’re an MLCO or MLRO, hopefully by now you have had chance to grab a copy of the latest LSAG Draft AML Guidance and started to thumb through its content. If you have, then you’ll have noted the many references to “Must”, “Should” and “May”. For those familiar with Lexcel and CQS, you’ll know […]
