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JUN
18

Inheritance Tax and the 14-Year Rule

People are generally aware of the 7-year rule regarding lifetime gifts and how this can affect their ability to mitigate inheritance tax. However, fewer people are aware of the 14-year rule, known as the PET-trap. Here we discuss the 14-year rule and the consequences it can have on a person's inheritance liability.

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  24 Hits
24 Hits
JUN
12

What You Need to Know About Unexplained Wealth Orders

On 31st January 2018, the Criminal Finances Act 2017 introduced new provisions in an attempt to tackle money laundering, corruption, tax evasion and terrorist financing in the UK. One of the new provisions was the introduction of Unexplained Wealth Orders, which were introduced to close the loopholes being exploited in order to hide the proceeds of crime. These Unexplained Wealth Orders require individuals to explain the nature and extent of their interest in specified property and how they obtained the property, as well as any other information in relation to the property as required by the order. Here we look when they can be used and what the consequences are.

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  69 Hits
69 Hits
JUN
07

Pre - Action Protocol - Professional Negligence Actions

INTRODUCTION

Most people have the misconception in regards to commencing civil litigation. Civil Procedure Rules 1998 (CPR) and Practice Direction (PD) requires parties to have exchanged sufficient information to understand each other’s position, make decision about how to proceed, try to settle the issue without proceedings, consider a form of Alternative Dispute Resolution (ADR) to assist with settlement, support the efficient management of those proceedings and reduce the costs of resolving the dispute before commencing proceedings.

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  61 Hits
61 Hits
MAY
31

Under What Circumstances Can I Contest a Will?

A person's estate is distributed upon their death according to their Will (or under intestacy rules where there is no valid Will). However, disputes over Wills have become increasingly common in recent years, partly due to the fact that assets (especially property) have increased significantly in value and also because family arrangements are now more complicated. The law relating to contested Wills is fairly complex, which can make a challenging time even more difficult. Here we look at when a Will can be contested and how to handle the situation.

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  28 Hits
28 Hits
MAY
31

Advance Decisions (Living Wills) Explained

An Advance Decision to Refuse Treatment (previously known as a Living Will) is a document used for people to record their wishes relating to medical treatment and what they wish to refuse in the event that that they no longer have the capacity to communicate their views. So long as these documents are correctly created, they are legally binding documents and take immediate effect from when they are signed and witnessed. This means that a legally valid advance decision has to be followed by healthcare professionals, and if they ignore it, legal action can be taken.

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  46 Hits
46 Hits

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