Wills, Probate, Tax & Trusts Legal Articles

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Making a Will during the Coronavirus crisis

25 Mar 2020

In light of such uncertain circumstances during this lockdown phase, naturally people are considering what would happen to their assets if the inevitable happens. Will drafters are facing unprecedented times; drafters are being overrun with requests for new Wills and updates to existing Wills. We are…

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Intestacy - The statutory legacy has increased

17 Feb 2020

The UK Government has increased the amount which a surviving spouse or civil partner is entitled to receive where a person dies intestate (without a valid will). The statutory legacy was £250,000; from the 6th February this was increased to £270,000. If someone dies intestate, the rules…

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Proposed amendments to the Inheritance Tax Act 1984

05 Feb 2020

A bill has been submitted, by Lord Lexden of the Conservative Party, to the House of Lords which proposes amendments to the Inheritance Tax Act 1984. If the bill is successful, it will allow (in certain circumstances) for property to be transferred between siblings without attracting Inheritance Tax (…

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Protecting the value of your home against care costs

19 Nov 2019

Many people work hard to buy their own home, and it is often their main asset which they hope their families will inherit after they die. However it is often the case that, if someone needs care in later life due to illness or frailty, their home must be sold in order to fund this care. With life…

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Inheritance Tax gifts shake-up

10 Jul 2019

An independent review by the Office of Tax Simplification (OTS) has concluded that the "seven year rule", a bedrock of UK inheritance tax (IHT) planning whereby assets given away during an individual's lifetime are exempt from IHT if the individual survives for at least seven years, should…

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What is the Difference between a Will and a Probate?

22 Mar 2019

The terminology surrounding the execution of a will can sometimes be quite daunting, especially when you are dealing with the death of a person or relative close to you. At Forbes Solicitors, we understand the information regarding this subject may not be the easiest to process, which is why we have…

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Increase to Probate fees from April 2019

22 Feb 2019

From April 2019 there will be a significant increase in the fees charged by the Probate Registry for processing applications for Grants of Probate and Letters of Administration. At present, probate fees are a flat fee of £215 for applications made by individuals and £155 for applications…

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Why do I need to make a Will?

14 Jan 2019

Recordings in 2018 show that over 60% of people in the UK do not have a valid Will, according to research from Unbiased.co.uk. This is an all-time high (passing the previous peak in 2011) meaning that now over thirty one million UK adults run the risk of dying intestate and having their estate…

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A Question of Trust

13 Nov 2018

People are often confused by Trusts and think that they are just for the very wealthy. In reality, Trusts can be a very useful way of providing for your family and protecting assets. What is a Trust? A Trust is any arrangement whereby someone (the Settlor) gives money or assets (the Trust Fund…

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