Wills and estate planning

Making a Will that's right for you

Religious Communities and the Mental Capacity Act

Many Religious Communities have an ageing population and encounter the same issues as the rest of society when caring for frail members of their community. However, for Religious Communities when a Religious lacks capacity or is in ill health, these problems are often exacerbated due to a lack of understanding amongst outside agencies such as the medical profession, and even in some case families, about what it means to be a member of a Religious Community and how the Religious would want their wishes to be fulfilled.

Stone King to open Leeds office in spring 2016

Stone King LLP’s new office in Leeds offers great opportunities for talented solicitors to join its top ranked Education Sector practice.

Stone King will be further strengthening its legal services for schools through opening an office in Leeds in the spring of 2016. This will significantly develop the Firm’s presence in the North of England and is a core part of our aim to be the legal advisor of choice for educational institutions across the country.

Care Costs Cap delayed until 2020

The government has decided to delay its flagship policy to cap social care costs under the Care Act until April 2020, thus breaking a key manifesto pledge./p>

The cap on the amount self-funders were to have to contribute to their care costs from April 2016 was to be £72,000 for over 65’s and younger adults with disabilities.

It’s all in the timing for non-domiciles

From April 2017, anyone who has been resident in the UK for more than 15 of the last 20 years will be ‘deemed’ to be domiciled in the UK for all UK tax purposes, income tax, capital gains tax and inheritance tax.

This will mean UK resident non-doms will be subject to UK income tax on their worldwide income and gains from their 16th year of residence and to UK inheritance tax from the same point on their worldwide assets, one year earlier than under the current rules.

Inheritance tax relief extended to the family home, but with strings

The new main residence nil rate band will mean there will be less inheritance tax to pay on the family home for deaths from April 2017 provided it is left to a close relative, defined as children or grandchildren.

The relief will be fully available by 2020, increasing from £100,000 in April 2017 to £175,000, when up to £1m can be left tax free by a married couple in certain circumstances rather than the existing £650,000, two nil rate bands of £325,000. This equates to a further maximum inheritance tax saving of £140,000.

Equitable mistake; how a +£150,000 tax bill was cancelled

The High Court has agreed to set aside a father's gift of a house into trust for his daughter that attracted unexpected inheritance tax (IHT) charge of £156,000.

Melanie Freedman was an unmarried mother with little income or other resources. In 2010, she asked her father to lend her £530,000 to buy a house for her and her child to live in while she was selling her previous home.

One good turn…. A pensioner leaves his entire estate to a builder who cleaned his gutter without charge

Mr Butcher, 75, a bachelor from North London changed his Will to disinherit his cousin and two family friends and left his entire estate valued at £500,000 to a builder who had reportedly cleaned his gutter without charge.

The previous beneficiaries of his Will claimed that Mr Butcher did not know and approve the contents of his Will. However, their inability to provide evidence to support this led the court to uphold the Will in favour of builder, Daniel Sharp.

Mr Butcher and Mr Sharp met in 2009 and remained friends after the original gutter-clearing job.

What happens to our social media accounts when we die?

What happens to all our social media when we die? It depends on the accounts you hold.

Facebook

Facebook has launched its ‘Legacy Contact’ feature. Historically, Facebook froze the accounts of deceased users, however this feature allows users to designate a person who will receive limited posthumous access to their account.

This represents a significant change for one of the most-used online services in history and signifies the growing importance of how online accounts are treated after a user dies.

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