Welcome to the latest ‘Here for You’. I hope you are all enjoying the summer, despite the current rain! In this edition we cover a range of issues, including how to mitigate inheritance tax when gifting assets to loved ones, how to make your will bullet proof and avoid potential claims under the Inheritance Act 1975 and a look at how current rising mortgage rates are impacting divorcing couples.
As always, if you have any questions about any of the articles in this edition, please do get in touch.
Can I avoid inheritance tax through a loan?
Writing for the Financial Times, Simon Mitchell answers a reader’s question about gifting property and inheritance tax.
Three common misunderstandings in relation to inheritance under English law
We often come across people who have misconceptions about how inheritance works under English law. Here, Una Angus sets the record straight on the three most common inheritance ‘myths’.
Could somebody make a claim against my estate under The Inheritance (Provision for Family and Dependants) Act 1975?
If you leave somebody out of your will, or make provision for them which they feel is too low, they may bring a claim under the Inheritance (Provision for Family and Dependants) Act 1975 (the 1975 Act). Neha Iqbal explains who could claim, and when they might succeed.
How is the mortgage rate crisis affecting divorcing couples?
With the cost of living crisis, divorcing couples are facing tough choices about their living arrangements. Higher inflation and mortgage rates make housing less affordable, impacting borrowing capacity. From selling homes to retaining fixed rates, Anna Woodhoo looks at how housing volatility affects divorces.
How have intestacy rules changed?
Are you aware of the new changes to intestacy rules? Helen Stewart looks at how the government has passed The Administration of Estates Act 1925 (Fixed Net Sum) Order 2023. This increases the legacy to the spouse/civil partner to £322,000 for all deaths on or after 26 July 2023.