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Wills and inheritance planning

26 February 2018

IHT and CGT - uncomfortable bedfellows? Don’t overlook possible Capital Gains Tax exposure in your Inheritance Tax Planning

Inheritance tax (IHT) and Capital Gains Tax (CGT) share the handle of 'capital' taxes. They have an uneasy relationship. They’re comfortable when doing their own thing; CGT a charge on capital profits, IHT a levy on the value in a deceased’s estate. But there are many occasions when they both come into play, giving both opportunities for effective planning and expensive traps for the unwary.

9 January 2018

How to ensure your funeral wishes are respected

Many people have very strong and specific wishes as to the nature and conduct of their funeral but they won’t be around to know if those wishes are carried out.  Under the present law, the executors appointed under the Will have ownership of the body and are, technically, the decision makers for funeral arrangements. They are not obliged to follow any funeral wishes expressed in the Will.

Stephanie Mooney

14 December 2017

Choosing executors for your will – pro or no?

When we mention preparing a will, many individuals assume the only significant point to consider is the distribution of their estate.  Who should benefit?  How much should they receive?  Of course this is vital, but the appointment of your executors should also be a key consideration.

23 November 2017

Digital Wills in Dubai

In October 2017, the Dubai International Financial Centre (DIFC) introduced a Virtual Wills Registry to give non-Muslims the opportunity to remotely create and register a Will to govern the succession of their Dubai assets.

Stephanie Mooney

20 October 2017

Homemade wills and deathbed gifts – are they easier to challenge?

Homemade wills are, generally, easier to challenge. There are a number of things which a court will be looking for when it considers whether a testator was capable of making a will. Firstly, the person must have the requisite mental capacity to make a will. They must also know and approve the contents of that will.  

Laura Phillips TEP

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