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Kingsley Napley’s Medical Negligence Team ‘walks together’ with the Dame Vera Lynn Children’s Charity
Sharon Burkill
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.
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.
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.
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.
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.
Sharon Burkill
Natalie Cohen
Caroline Sheldon
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