Insight
Publish date
24 May 2024
Here for You – May 2024
Welcome to the latest Here for You. In this edition, we have included a range of articles from across our Wills, Estate & Tax Planning, Probate, and Family teams.
We observe rising inheritance tax receipts and falling marriage rates and what this means for cohabiting couples. We look at spousal exemption when it comes to inheritance tax and what this means for non-domiciled spouses or civil partners.
Simon O’Connell, Financial Planner from Evelyn Partners also sits down with our family team to discuss the importance of discussing pensions on divorce.
We also highlight the importance of estate planning early in order to best protect your loved ones upon death. With government cutbacks in the public sector continuing to impact the family courts, our final article looks at the need to consider alternative dispute resolution options – such as mediation – when divorcing or separating.
As always, if you have any questions about these or any other topics, please do not hesitate to get in touch.
Rising inheritance tax receipts and falling marriage rate highlight an issue for cohabiting couples
The latest figures from the Office for National Statistics show that married couple families are decreasing as a proportion of all families. Simon Mitchell, Head of our Wills, Estate & Tax Planning team looks at what this means for you.
Inheritance tax exemptions for non-domiciled spouses or civil partners
One of the most valuable exemptions available for inheritance tax is the spouse or civil partnership exemption. Sarah Crane looks at cases where the deceased is UK domiciled but their spouse is domiciled abroad, and what this means for that exemption.
Dealing with pensions and divorce
Anna Woodhoo from our Family team talks with Simon O’Connell, Financial Planner from Evelyn Partners on how to best deal with pensions when going through the divorce process
Consider your options: How estate planning early can help your loved ones in the future
The Financial Times highlighted that over 13,000 families faced surprising Inheritance Tax (IHT) bills – as high as £1.4mn – as a result of donors dying within seven years of making a lifetime gift. Our article reiterates the importance of estate planning at the earliest opportunity.
Resolving family law disputes in mediation
Government cutbacks in the public sector mean it is now expensive and takes a long time for family courts to deal with children and financial applications. Mediation however, can be a significantly cheaper and quicker way for couples to resolve financial and children issues.
