A landmark case in the Supreme Court has ruled that a pension transfer made in ill health was not liable for inheritance tax. In the recent case of Commissioners for Her Majesty’s Revenue and Customs v Parry & Ors (also known as the Staveley case) it was found that HMRC should not charge IHT on …
Under the Wills Act 1837, when someone makes and signs their will two additional people need to be physically present to act and sign as ‘witnesses’ to the will. This is to protect the person making the will (the testator) from potential fraud or coercion. Unfortunately, the current pandemic and government imposed social-distancing rules have …
There has been considerable press coverage in the last few months over the considerable delays in the process of obtaining grants of probate from the Probate registries. The Government currently says that the process to obtain probate takes four weeks, but official data confirms that it is taking far longer in practice. In the first …
Prince Charles’ private estate receives hundreds of thousands of pounds each year from people who pass away in Cornwall without leaving behind them a will or any living relatives. Due to powers stretching back centuries known as bona vacantia – a term used for ownerless land – all unclaimed property from a person who dies …
The continuing effects of coronavirus remain uncertain. Understandably, many people are concerned about its potential impact upon them and their loved ones. Deborah Adams Director of the Wills and Probate Department at Parnalls has put together some common questions clients are asking at this difficult time. You should check the Government website for the latest …
The present social distancing requirements imposed by the Government to slow the spread of the COVID-19 pandemic present a particular challenge for the execution and signing of legal documents. For a will to be valid, it must be signed in the physical presence of two witnesses that are not beneficiaries under the will. This means …
‘Never put off till tomorrow what may be done the day after tomorrow just as well,’ said Mark Twain in 1881 – when on average men died at 50 and women reached 56. Nowadays, average life expectancy for men in the UK is 79 and 83 for women, and one-in-every-fourteen people over 65 is likely …
Around 6,000 people in the UK are on the transplant waiting list; and in 2018 alone, at least one person a day died while waiting for a transplant, according to the NHS. New laws on organ donation consent are coming into force in Spring 2020 which the government hopes will help save hundreds of lives. …
Christmas is a time for giving and if you are struggling for ideas about what to give your nearest and dearest, and you are keen to reduce the amount of inheritance tax paid to HM Treasury when you die, you might want to talk to your solicitor about how to give away money and assets …
As an executor, you are likely to need a Grant of Probate to enable you to carry out the deceased’s wishes as was set out in their will. The grant is formal confirmation from the probate court that the executors are legally entitled to administer the estate. You must apply for the Grant of Probate …
