Office Of Tax Simplification Propose New Inheritance Tax Gifting Rules
The inheritance rule involving inheritance gift giving before death could reduce from seven to five years. Currently, any estate gifted within seven years of a person’s death are liable to be included in any inheritance tax bill with a sliding scale being imposed between three and seven years of the gift being given and the […]
Law Society Confront HMCTS Over Probate Delays
The Law Society met with HM Courts and Tribunals Service (HMCTS) officials last week to discuss their concerns regarding the prolonged delays to the probate service. On Thursday 27th June 2019, the Law Society implored HMCTS to provide regular and improved levels of communications to probate practitioners, executors and grieving families. HMCTS confirmed that the […]
Families Grieving The Loss Of A Child Spared Burden Of Funeral Costs
The Government has finally triggered legislation to ensure that grieving families in England are not faced with the added burden of finding the money to fund a funeral if their child, under the age of 18, tragically loses their life. The legislation also applies to parents grieving the loss of a stillborn child if they […]
Guardianship Act Law Change To Ease Grief Of Missing Persons’ Families
From next month, The Guardianship (Missing Persons) Act 2017 will be introduced whereby grieving families of missing relatives will have the legal authority to deal with their finances and assets. The Guardianship (Missing Persons) Act 2017 gained royal assent 2 years ago but has been gathering dust in parliament, waiting for approval. The Act would […]
Only 25% Of Social Media Users Consider Their Digital Assets
Research has indicated that 33% of the world’s adult population have a social media account of some description, yet few have considered the implications of what happens to their online data after they die. Facebook alone has around 2.27 billion members with more than 1.4 billion set to die by 2100. Despite these figures, only […]
Top Tips When Dealing With Estates With Foreign Assets
It can be difficult to know where to start when it comes to dealing with the administration of foreign assets such as overseas property, bank accounts or shares. Sara Janion, Director of Worldwide Lawyers – a UK-based company, which connects UK solicitors and legal practitioners to independent lawyers across the world – and Notary Public of […]
Funeral Director’s Fears Over Impact of Rising Funeral Costs
Following the HM Treasury’s (HMT) recent announcement on funeral plan regulation, a southern funeral director has warned of the implications of rising funerals costs on bereaved families. The Somerset funeral director is concerned that grief-stricken families are being left destitute after paying thousands of pounds on funerals for their loved ones As of June 2019, […]
No-Fault Divorce Bill Introduced To Parliament
The Divorce, Dissolution and Separation Bill was introduced to the House of Commons last week. Once the Bill is enacted, those within failing marriages will be able to divorce without having to blame their partner. Following a consultation in April, there was an overwhelming demand for no-fault divorces. It is hoped that it will result […]
Professional Document Scanning Enhances Data Security Compliance
The General Data Protection Regulation (GDPR) became law in May 2018. Data security is extremely serious as failure to comply could have major consequences for your firm – with the bottom line being it could cost your business millions and cause severe damage to customer relationships and your brand image. With an evolving legal industry, […]
Industry Views Of Funeral Plan Regulation Announcement
The UK funeral industry opinions are seemingly largely in favour of HM Treasury’s (HMT) announcement on funeral plan regulation. On the face of it experts in the sector mostly agree with the Government’s plans to introduce statutory regulation to the pre-paid funeral plan market – which is the culmination of an enquiry by HMT some […]
Millions Of Unsuspecting Estates On Brink Of Inheritance Tax Threshold
Following a decade of consistently rising house prices and favourable pension schemes, around 1 million people aged over 60-years are teetering on the precipice of an Inheritance Tax (IHT) black hole. Unbeknown to the estate owners, increasing equity in property has left a mass of people on the brink of IHT liabilities. Whilst the government […]
Charity Regulators Discuss Wills Notification Service With Smee & Ford
The Institute of Legacy Management (ILM) are attending a meeting with Smee & Ford tomorrow morning, Thursday May 22nd, to discuss the issues involved with a change over from the current service to whatever iteration the new Wills Notification service will take. They will also seek clarity on the situation and try to pass on […]
Legacy Sector Discussions Set For Today’s Wills And Probate Round Table
The charity sector has been forced to confront the wrath of governmental reform in recent months; all of which had huge ramifications on the charity sector and their ability to accrue legacy gifts. Firstly, the changes to the Non-Contentious Fees Bill have the potential to cause a loss of £10 million per year in legacy […]
Short-Term Arrangement To Replace Current Wills Notification Service
Her Majesty’s Courts and Tribunal Service (HMCTS) have claimed that the proposed changes to the Wills Notification Service will launch a short-term arrangement that is set operate for around a year until a long-term solution is created and set up by the summer of 2020. In February, the Government announced that the Wills Notification Service, […]
Seminar For Lawyers On New SRA Code Of Conduct
Legal Eye is set to host a seminar for lawyers to find out more about the upcoming changes to the SRA Handbook and Code of Conduct. The seminar will be held at the offices of JLT Specialty in London on Thursday 13th June, where firms will have the opportunity to discuss more in-depth about this […]
An Introduction To SRA Handbook Changes
Do you want to hear about the changes to the SRA Handbook that are being introduced in November this year? Legal Eye has produced a webinar which gives an introduction to the SRA Handbook changes and most importantly, what it means for you and your firm. To hear about the changes, please click here. This […]
Error Strewn Probate Fees Order Could Languish In Waiting Room Until Autumn
The new probate fees statutory instrument has languished in a parliamentary waiting room for over two months with a myriad of errors. The Government were ready to launch the probate fees in their current draft and had planned to make the changes from April 1 this year. However, Law Society officials, have warned that the […]
Brexit, Regulation And The SRA Handbook
The new Solicitors Regulation Authority (SRA) Standards and Regulations will allow solicitors to work in non-regulated practices, carrying the title ‘solicitor’. The handbook has been extensively re-written to provide a shorter set of rules, with less guidance and indicative behaviours. More will be left to the individual judgement of the solicitor, particularly those working alone […]
Proposed Probate Fee Reforms Fall Short
Most solicitors who deal in wills and probate matters remember Chris Grayling’s time as the first non-lawyer lord chancellor for his decision in May 2013 to reject the Legal Services Board’s recommendation to make will-writing a reserved legal activity under the Legal Services Act 2007. However, few wills and probate solicitors will realise that he […]
Clarity Needed Over How Probate Fees Will Be Claimed
Following the government’s announcement that they will increase probate fees, the backlash from the majority of informed specialists has been overwhelming. The cynical charge that has been dubbed as a ‘Stealth Death Tax’ has been seen as a way of skimming off the top and increasing inheritance tax. Primarily, the problem lies in the fact […]
