Can you pass on your family home – without paying Inheritance Tax?
- Friday, 13 April 2018
- Written by Eric Hartley
Everyone is currently entitled to pass on £325,000 of wealth tax free to anyone they like, regardless of whether or not they own a property. Anything above this is taxed at 40%.
Married or civil partners can transfer all assets free of tax between each other, and one partner can also inherit the other’s allowance, so in practical terms, the Inheritance Tax (IHT) liability threshold for a married couple is £650,000 and the issue of paying IHT will only become a liability on 2nd death. This is not the same for un-married couples.
Funeral cost: £4000 and rising!
- Tuesday, 13 March 2018
- Written by Jenny Fothergill
Few of us want to think about when we are no longer here. However, more and more people are now coming to realise that planning – and paying for – their funeral arrangements in advance is a huge help to their family and will also save costs.
In 2017 the average cost of a funeral was £4,078* and the cost is set to rise further. Funeral costs have risen by 103% over the last 12 years*. If you have put money aside in a savings account for a funeral, it’s going to fall far short of what’s required when the time comes.
One simple way to protect your business
- Monday, 12 February 2018
- Written by Jenny Fothergill
Are you a business owner or company director? Who would manage your business if you suddenly couldn’t? Have you appointed anybody to act as your attorney if you are incapacitated? Not simply is there someone capable of acting on your behalf, but have you prepared a specific document to give them the legal authority to do this?
Don’t be one of the 86%!
- Wednesday, 17 January 2018
- Written by Jenny Fothergill
Once you sign your Wills, most people give a sigh of relief that ‘everything is now sorted’. However, outdated legal documents can cause havoc on your family wealth and personal representatives. A recent consumer survey* found that 86% of respondents who had Wills and other estate planning documents have not reviewed or updated their Wills in the past five years!
What use is a Partridge in a Pear Tree?!
- Friday, 15 December 2017
- Written by Jenny Fothergill
How can you show your loved ones you really care this Christmas?
Christmas is a seen as a time for family gatherings, a time to buy gifts and show your love and gratitude to those you love. So if you’ve discounted getting Three French Hens or Five Gold Rings, what are the most important things you can do for your family? How do you show that you love them and you care, and you are thinking about their future?
