As the taxation treatment of all trusts except absolute trusts is now relatively hostile with a 45% tax rate on income over £1,000 and 28% on capital gains, some care is required in selecting investments to minimise exposure to these charges.
Rectification of Wills – Kell v Jones & Ors [2013] WTLR 507
This case shows that even if the intentions of the testator are known, a claim for rectification will not succeed if the mistake in the drafting was not a clerical error but was a mistake made after carefully thinking about the words to use and getting the effect of those words wrong.
Compromising Probate Claims: Stop The Ride I Want To Get Off
Usually probate will be granted to the executors without much controversy. Occasionally, however, there may be doubts about the validity of a Will. If this results in litigation, the parties are unable to compromise it freely, and so settling a probate claim is often a complicated business.
Finance (No.2) Bill 2013 – Changes to the deduction of liabilities for IHT – Are they fair?
Out of the blue and without consultation the Finance Bill 2013 when published contained a shocking provision tucked away in Schedule 34. It is a devastating provision for many farmers and business people BUT there appears also to be a harsh outcome for many other clients too, which may be unintentional. It will affect a large proportion of your clients.
Government Refuses To Regulate Will Writing
To-day I am sad to report that the Minister of Justice, Chris Grayling, has refused to accept the Legal Services Board recommendation to regulate Will writing – http://bit.ly/12s94hZ
It is hard to appreciate the kind of evidence which the Minister believes is required to justify the regulation of this most fundamental of legal services. I suspect that it is yet further evidence of the lack of appreciation of the role the legal profession plays in providing services which are in the best interest of the client and not themselves; as opposed to Bankers and supermarkets who supply services in the interests of their shareholders whether or not it is what the consumer requires, as we have seen with the mis-selling scandals.
LinkedIn- Networking The Modern Way
Busy running your practice? Despite all the requests to be in two places all the time, you have yet to find a way to clone yourself. So stop trying to be both in the office and out at the networking breakfast.
What Does Your Portfolio Say?
What does your portfolio say about how the money is going to be spent? It should say something, because that is what money is for. A portfolio is not there to provide you with a regular supply of pieces of paper with numbers on them.
French Property Article – The Hague Conventions
A review of the 39 conventions that have been signed at The Hague that are important for you to know some of them that apply to the advice that you receive from your lawyer.
Losing Money With Grace and Tax Efficiency
HMRC are looking closely at income tax loss claims and this is emphasised by the capping of income tax losses from 6 April 2013 to £50,000 per annum or 25% of an individual’s total income (whichever is the greater).
Double Portions – Kloosman v Aylen & others [2013] EWHC 435
Double portions sound greedy and in a way they are. If someone makes a lifetime gift and there is a gift in a Will to the same beneficiary was it the intention of the deceased to provide for them twice?
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Suitable Investments For Minor Children As Beneficiaries Of Trusts
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Rectification of Wills – Kell v Jones & Ors [2013] WTLR 507
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Compromising Probate Claims: Stop The Ride I Want To Get Off
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Finance (No.2) Bill 2013 – Changes to the deduction of liabilities for IHT – Are they fair?
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Government Refuses To Regulate Will Writing
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