New reporting forms have been introduced to improve protection for people using lasting powers of attorney (LPA). LPAs enable you to appoint someone to be your deputy and look after your interests should you lose the capacity to make decisions for yourself at some point in the future. Deputies can be appointed to make decisions […]
Wealthy families face £20,000 rise in probate fees
Families inheriting estates valued at more than £2m will have to pay probate fees of £20,000 under new proposals being put forward by the government. The move would also see the beneficiaries of much smaller estates paying no fee at all. Under the current system, all estates worth more than £5,000 pay a standard probate […]
Most people still prefer to ask a solicitor to write their will
The vast majority of people still prefer to ask a solicitor to write their will, according to new research by Will Aid. The number of people consulting solicitors about their will has risen by 2% over the last four years. Meanwhile, the number of people using will writers instead has fallen from 17.9% in 2008 […]
Daughter appointed as her mother’s deputy despite living abroad
A woman has been appointed as her mother’s deputy in a power of attorney arrangement despite living more than 3,000 miles away in the United States. The judge held that the arrangement could work perfectly well because of the advances in modern technology including online banking. The case involved a woman who had been admitted […]
Inheritance tax payments soar as family wealth rises
Inheritance tax payments have been increasing due to rising house prices and an overall rise in family wealth and investment. The latest figures from HM Revenue and Customs show that just over £3 billion was collected in inheritance tax in 2013, an increase of 15% on the previous year and the highest figure since 2008 […]