“Gifts out of income” are not a loophole; they’re a long‑standing statutory exemption. The rule sits in section 21 of the Inheritance Tax Act 1984. A lifetime gift is immediately exempt (so there’s no seven‑year clock) if, and to the extent that, three tests are met: (1) the gift formed part of the donor’s normal … Read more
The UK government has confirmed that unspent pension funds and death benefits will become subject to Inheritance Tax (IHT) for deaths occurring on or after 6 April 2027. In other words, from that date the value of remaining pension assets when someone dies will generally be counted as part of their estate for IHT purposes. … Read more
In England and Wales, you generally have freedom to distribute your estate as you wish, yet the Inheritance Act 1975 can restrain that freedom by allowing certain people (like your spouse or children) to claim reasonable financial provision from your estate. The courts respect your testamentary freedom – they won’t automatically rewrite a Will just … Read more
Overview of Business Property Relief (BPR) Business Property Relief (BPR) is an inheritance tax relief that reduces the taxable value of qualifying business assets, potentially by 100% or 50%. Currently, many business interests – such as a trading business or unquoted company shares – can qualify for BPR, effectively reducing (or even eliminating) their value … Read more
Grandparents often want to know if they have a right to contact with children after parental divorce or separation. A child needs a lot of support to stop them feeling upset or worried when their family has split up. Contact with grandparents can help. Find out how you can make an arrangement to see grandchildren … Read more
Family mediation is where an independent, professionally trained mediator helps you and your ex to work out an agreement about issues you have not yet decided on. What is mediation like? Some people may feel reluctant to give mediation a try because they worry that they will have to compromise or ‘back down’ in a way … Read more
The rules of intestacy are the those that apply for distributing your assets if you have not made a Will. The rules depend on whether you are married / in a civil partnership or not, and whether you have children. Broadly speaking: For more scenarios, see the graphic below (click to enlarge). The outcome of … Read more
What is a Tenancy in Common? A tenancy in common is a form of co-ownership where each owner holds a distinct share of the property. Unlike a joint tenancy, these shares may be unequal and are treated as separate in law. All tenants in common have an undivided right to possess and use the whole property (just … Read more
This page is a guide on how to write a Will in the UK. It looks at the contents of a simple Will with examples of the clauses that might be included. It is not intended as a substitute for professional advice. Written by a practising solicitor and updated 24th May 2022. You can find a number … Read more
Before you visit a solicitor to make your Will, it can be helpful to have a good idea in your mind of what you would like to include. There are also various bits of information that your solicitor will ask on the day (or possibly, before the day). In this guide, I go through the … Read more
