Archives

Government shelves increase in probate fees

April 21, 2017

The government has announced this morning that the proposed dramatic increase in probate fees has been shelved. Whether this is (as announced) because there is no Parliamentary time available before the election, or whether the government has belatedly responded to the overwhelming public opposition to the proposal, we welcome this announcement. There was no moral…

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Ilott –v- Mitson: Back to Square One

March 20, 2017

The case of Ilott v Mitson hit the headlines in July last year, because a court overturned a mother’s Will, taking £164,000 (out of about £450,000) away from the charities she intended to benefit, and giving it to the daughter from whom she had been estranged for much of her life. Now the Supreme Court…

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Probate Fee Hike

February 28, 2017

Government proposals just announced will add thousands of pounds to the cost of winding up many estates in this area, up to £20,000 in some cases. Probate Court fees are set to rise from a flat £155 to a sliding-scale fee related to the value of the estate.  This will impact most on estates where…

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Inheritable ISA Allowance

November 13, 2015

The question A number of people are asking us about changing their Wills to take advantage of the new inheritable ISA allowance. If you already know about ISAs (or if you don’t want to know about ISAs), skip down to “The answer” –  otherwise read on. The background The background is that every adult is…

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The “Million Pound Nil-Rate Band”

September 25, 2015

I’ve read about the Million Pound Nil-Rate Band and I want one.  How do I get it? You don’t, at least not yet, and maybe not at all. The first thing you need to know about the Million Pound Nil-Rate Band is that there isn’t one.  Nothing has changed and nothing will change until 2017….

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The Danger of Home-Made Wills

August 21, 2015

The internet is a great place to get information. Google any topic and within minutes you can download hundreds of ‘How to’ pages that claim to give all the answers and the knowledge needed to tackle life’s important tasks. However, there are many instances in life where taking the DIY approach can cause problems in…

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Deeds of Variation

July 21, 2015

Deeds of Variation – One Way to Avoid Paying Too Much Inheritance Tax (and Buy Now While Stocks Last!!) Deeds of Variation – the 10 second version If you don’t have time read to all this, the vital message is: if you inherited or stand to inherit from someone who died in the last two…

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Colemans

The Minority Shareholder Trap

June 16, 2015

You and your three friends start up a business. It takes off and, on the advice of your accountant, the four of you form a limited company. Each of you has 25% of the shares. You are a minority shareholder, but that doesn’t bother you. Why should it? The business has grown and is now…

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Colemans

Deadlock Forces Sale When Family Inherits Business

September 3, 2014

When a family business is handed down and ownership is split between two or more members of the next generation, the result can all too often be discord. Normally, this can be resolved by one party buying out the other, but when this does not occur, the result can be a disaster, as a recent…

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