The Residence Nil Rate Band (RNRB) has now been in force for a year and applies to estates where the deceased died on or after 6 April 2017. Where the deceased owned or, in some cases, had an interest in, a residence the RNRB makes available an additional tax free amount if the residence is inherited by someone closely related to the deceased.
The Residence Nil Rate Band (RNRB) has been recently introduced and is only able to be claimed on estates where the deceased has died on or after 6 April 2017. The RNRB increases the amount which can pass free of Inheritance Tax on the death.
Independent administration is a service solicitors and families can use when there are recalcitrant executors, intractable differences of opinion or contested wills combined with a need to protect an element or the whole of a deceased’s estate.
Thomson Snell & Passmore has responded to the Law Commission’s consultation on the law of wills.
New powers over what happens to digital legacies upon death have been called for by solicitors and legal academics
Nicola Plant, Partner and Head of Private Client speaks to The Law Society Gazette about the government's decision to scrap probate fee increases.
Personal representatives are expected to make full enquiries regarding lifetime gifts made by the deceased, as well as the assets in the estate. Failure to do this could result in a penalty being imposed by HM Revenue & Customs. Helen Stewart, Partner and Head of Probate, considers a recent case and provides some tips for avoiding penalties.
The Solicitors Journal reports on Thomson Snell & Passmore's recent significant promotions within the firm.
We are pleased to receive, for another year, the accolade from eprivateclient of being listed as one of the Top 25 Law Firms in the UK.
Probate is a subject that is increasingly grabbing the headlines not least because disputes are increasing, particularly in relation to who inherits and how much they inherit from a testator’s estate.
When a loved one dies, it is a hugely emotional and challenging time. Family tensions often run high, and where the deceased has left behind a Will that is not as expected, creates disappointment or jealousy, or perhaps even arises suspicion as to the circumstances surrounding its creation, the situation can become all the more difficult.
For most of us, and increasingly irrespective of age, the digital world has crept into our lives. Whether we manage our bank accounts or investments online, store our photographs in the cloud or manage our social lives through Facebook, our digital footprints are becoming deeper and deeper.
We are frequently called upon to secure English grants of probate for managing the British-based assets of deceased persons who were domiciled outside the UK. Our proficiency in these matters is demonstrated by the following case study.
Q. I have been cut out of my parents Will, what can I do?
The inheritance and income tax promises from party manifestos are little more than tinkering. They are only likely to complicate tax matters further.
The death of a shareholder can create significant problems for a company. Our experience suggests that this is particularly so where there are only two shareholders who each own 50% of the shares.
It's impossible to prepare for every eventuality and prevent a probate dispute, but there are various ways to reduce their likelihood, says Jessica Bermingham.
The recent court victory of budding young opera singer Miles Taylor provides a salient reminder that the notion that your will can leave whatever you want to whomever you want is, in some ways, a myth says Jessica Bermingham.
Leading South East law firm Thomson Snell & Passmore is delighted to announce today that the firm’s Private Client team has once again been included in Private Client Practitioner magazine’s “Top 25 Law Firms”. This is the fourth consecutive year that the team has been included in the highly regarded rankings.