Wills & Probate
Foreign assets in a Will – what you need to know
In recent years, it has become increasingly common to own assets in multiple countries. While global diversification can be beneficial to your investment portfolio and estate, dealing with foreign assets in a Will can be complex. At Attwaters, we understand the intricacies of managing foreign asset....
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John le Carré’s legacy and the benefits of tax-efficient planning
The Times recently reported that John le Carré’s children have offset their Inheritance Tax bill by donating their late father’s literary archive, valued at £1.5 million, to the University of Oxford’s Bodleian Library. At Attwaters, we believe this is a prime example of the advantages of ef....
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Making gifts as an attorney or deputy
Gift-giving is a common estate planning that can reduce the value of an estate for Inheritance Tax (IHT) purposes and ensure assets are used according to the donor's wishes during their lifetime. However, gift-giving needs to be carefully planned and dealt with cautiously. If you are an attorney or....
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Brother wins battle in £10m strawberry farm case
The son of a fruit farmer who abandoned his dream of becoming a Royal Marine to work in the family strawberry business has won a court battle against his brother over their father’s £10m business. Richard Winter gave up his dream of military stardom to grow strawberries after his father promi....
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Frequently asked questions about passing on wealth
As the Private Wealth Law Firm, we have spent many years supporting our clients to pass down their wealth to future generations as smoothly and tax-efficiently as possible. Although every client’s needs and experiences are unique, there are some questions which we find come up time and time again....
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Inquiry calls for change in probate service crisis
Analysis of Ministry of Justice data shows that there has been a 65% increase in probate cases taking a year or longer to clear. These delays are continuing to cause significant emotional distress and financial losses for families who are already going through an incredibly difficult time in their ....
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Anne Robinson provides a lesson in estate planning
The news that Anne Robinson has given away her £50 million fortune to avoid paying inheritance tax has recently caused a splash around the media. But can gifting your fortune really keep the taxman away? And what does the story tell us about the importance of estate planning? Inheritance....
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Executor of will vs power of attorney – what’s the difference?
In the world of estate planning, there are two legal roles that often get confused: executor and attorney. The former is responsible for carrying out the wishes of a deceased person as per their Will, whilst the latter is responsible for looking after a person’s money and welfare while they ar....
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Why you should keep your Will regularly updated
Andrew Flannagan, Head of our Wills, Trusts & Probate department, has decades of experience in estate administration, tax planning, Wills and Powers of Attorney. In this blog, he explains why making a Will is not enough – you have to keep it up to date, too. As an experienced Wills & P....
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This story is exactly why you need a professional trustee
was placed into a trust until they reached the age of 25. The bequest was supposed to give them a head-start in life, to help them onto the property ladder or pay for their education. But when one of the Thomas sisters asked to access the money early in order to purchase a property with her boyfrie....
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Why we’re proud to have a Lifetime Lawyer on our team
The Association of Lifetime Lawyers (previously Solicitors for the Elderly, or SFE) is a community of legal professionals who specialise in working with older or more vulnerable clients to resolve some of the common legal issues experienced by these groups of people. Our Partner and Head of Cour....
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Probate registry delay complaints continue to mount
For several years now (i.e., since the pandemic), the probate process has been fraught with severe delays, leading to increased financial hardship and even cancelled house sales for thousands of families. According to official figures, waiting times almost doubled between April 2022 and April 2023,....
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Could the end of Inheritance Tax be imminent?
Inheritance Tax (IHT) is a tax levied on the estates of people who have died, normally at a rate of 40%. Whilst just one in 20 estates are subject to IHT, this number actually used to be far lower. The threshold for the tax has been frozen at £325,000 since the 2009/10 financial year; in the subse....
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How to stay on the right side of IHT
Inheritance Tax (IHT) – the British public’s most hated tax – is levied on the value of a deceased person’s estate. From April 2022 to December 2022, the amount raised by IHT was £5.3 billion, £700 million higher than a year previously. As the frozen threshold forces more and more people ....
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Trustees – don’t miss your trust registration deadline
In 2017, the Trust Registration Service (TRS) was established to register trusts for both tax and Anti-Money Laundering (AML) purposes. At first, trusts only needed to be registered if they were liable to pay tax – for example, Capital Gains Tax, Stamp Duty Land Tax, Income Tax or any other kind ....
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Leaving cryptocurrency in your Will
In our previous blog, we wrote about digital assets and their importance in estate planning. One such asset is cryptocurrency – a type of digital currency which is controlled independently from a central bank – which has taken the investment world by storm in recent years. You may have heard of....
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What are digital assets and why should you include them in your Will?
If you have a social media account, use an online banking app, or are subscribed to a music service like Spotify, then you are the proud owner of a digital asset. What are digital assets? A digital asset is anything that is stored digitally (i.e. in binary format) that you either own or h....
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Lifetime gifting and the ‘presumption against double portions’
The rules around inheritance are highly complex, as many of those who have had to go through probate or deal with Inheritance Tax issues know all too well. Because so few people fully understand them, however, they may risk unintentionally jeopardising the inheritance they leave behind for their be....
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