This category offers practical insights into everyday legal queries and situations. Whether you’re facing a specific legal question or simply seeking clarity, you’ll find accessible information to guide your next steps.
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
An Ordinary Power of Attorney is quick and easy to make, granting power for someone to help you with your finances when you need it. There are several different ways to get help with your finances. They include: From the above, you can see that the ideal solution is to put in place an Ordinary … Read more
A nuptial agreement allows a couple to set out how their financial affairs will be managed and how assets should be divided if they divorce or (for civil partners) if the partnership is dissolved. Such agreements can provide certainty and protect assets, but it’s important to understand their legal status and how to ensure they … Read more
Gifts made during your lifetime can sometimes affect the amount of Inheritance Tax that your estate pays on your death. However, with careful use of Potentially Exempt Transfers and various lifetime gift exemptions, you can reduce or eliminate any IHT on those gifts. Below we outline how lifetime gifting works for IHT purposes, including updated … Read more
I outline the basic Inheritance Tax allowance (the nil rate band) and the newer Residence Nil Rate Band below, and update the guidance to reflect recent and upcoming changes in the rules. Nil rate band Inheritance Tax on your assets is charged at the following rates: The nil rate band is currently £325,000 and is … Read more
Changing your name in England and Wales is relatively straightforward. In fact, there’s no legal requirement to register a name change at all – you can simply start using a new name, provided you aren’t doing it for fraudulent reasons. However, while you can legally call yourself any name (as long as it’s in good … Read more
