IPDI or not IPDI? …That is the question. You often see Life Interest Trusts and Right to Occupy Trusts discussed together, and for good reason as they do share some similarities. This week we give a basic overview of their differences, specifically when it comes to Inheritance Tax (IHT) treatment. In brief, Life Interest Trusts…

Stamp Duty Land Tax & Trusts Stamp Duty Land Tax (SDLT) is a tax charged on the consideration given for the sale of land in the UK. As it is only charged on transfers for consideration it is usually not applied to gifts or transfers to a trust. The exception to this is where the…

Ever been caught out by scammers? It seems that nearly everyone knows someone who has been affected by some sort of fraud. I recently heard a retired detective describe fraud as ‘theft with a smile’ which is chilling. I was prompted to write this article after watching Martin Lewis on television this morning. He was…

Most people collect a lot of ‘stuff’ over the course of their lives. Some valuable in real monetary terms, and some valuable from a sentimental perspective. Much of these personal possessions fall under the definition of ‘personal chattels’. Personal chattels are defined by s55(1)(x) of the Administration of Estates 1925 as amended by the Inheritance…

If your thinking “its about time I wrote my Will”, read on. And if your thinking, as do the majority, “why should I, there is always tomorrow” then you definitely need to read on. What are your options when making a Will? DIY – it is a fact that more Wills fail or are challenged…

Happy birthday to us! The SWW has turned 24. In April 1994 the Society of Will Writers was formed to provide support to members and protection to clients of SWW members. 24 years later we are still here, still providing support to members and still protecting our member’s clients – just on a far bigger…

Ken down the pub doesn’t need a will, and neither do you he says. Here’s why: You like the idea of intestacy You’re perfectly happy to leave someone else to decide who will benefit on your death. You like the inflexibility of the intestacy rules. If you are unmarried your partner cannot benefit under these…

If you’re in the business of offering Wills and Estate Planning to your clients and have done so for a while you might begin to think that your offering/image is getting a little stale and in need of reinventing. Sorry to say but websites, like bread loaves tend to have a shelf life. The shelf…

Avoid intestacy If you die without making a Will, known as dying intestate, then your assets will be distributed according to the rules of intestacy. This will mean that the people you would like to receive your estate may not necessarily inherit it. Appoint executors Executors are the people you choose to carry out your…

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