Company succession planning is critical to ensure that a company can continue to run in the unfortunate event that a director (or shareholder) dies. If there are other surviving directors, they are able to step in and run the company, but what happens when a sole company director dies?
In many estates, the deceased’s home is the principal asset whose value often tips the estate over the inheritance tax (IHT) threshold. The status of the deceased’s house/flat as “family home “attracts little special tax treatment beyond the additional “residence nil rate band” for IHT purposes if it’s left to “direct descendants”. But a house within an estate does illustrate well the main issues of valuation for IHT on death and Capital Gains Tax (CGT) implications when the property is sold by the Executors.
Let’s cut straight to the chase - despite the assurances of the man in the pub and the claims of some dubious “estate planning” outfits, you cannot effectively put your own assets beyond the reach of creditors on bankruptcy by wrapping them in a trust.
The coronavirus crisis has caused huge disruption across the world. The distress that it is causing is compounded in circumstances where intended parents of surrogacy children are in the middle of their surrogacy journey. In this blog, we address some of the most common issues people are experiencing and provide practical tips on how to navigate the current situation. These challenges include access to fertility treatment, pregnancy and birth, international travel restrictions, immigration status, parental orders and Wills among others.
With an increase in the number of client wanting to write new, or update existing, Wills or Lasting Powers of Attorney while either self-isolating or remaining within the government's social distancing guidelines, Diva Shah discusses the possible changes to the Wills legislation.