Blog
Kingsley Napley’s Medical Negligence Team ‘walks together’ with the Dame Vera Lynn Children’s Charity
Sharon Burkill
Please see below for our immediate thoughts on pertinent parts of the Budget affecting our client base but do let us know if you have any questions or there is anything you wish to discuss.
If someone dies domiciled in the UK for inheritance tax (IHT) purposes (or non-domiciled but with UK assets exposed to IHT), this is a tax that cannot be ignored.
It is fair to say that we as a society are not comfortable discussing death. It is daunting – you have to think about Wills, funerals, organ donations, Lasting Powers of Attorney, and care planning. You cannot escape death, but you can ensure your plans are in place. Unnerving as it is, the alternative to not talking, thinking and planning is problems and heartache for loved ones and arguments over property, assets and funerals. Wills and Lasting Powers of Attorney need to discussed more openly and acted upon.
The concept of matrimonial regimes has become increasingly well known in England, having been a stalwart of the French marriage process for centuries. International clients and those with Anglo French connections are asking the right questions about French marriage contracts versus English prenuptial or postnuptial agreements more frequently, being more aware of the significant differences between the two and also the need for cross-border legal advice to ensure their interests are protected should they later choose to divorce.
With the recent Spring Budget came a relatively small update to Inheritance Tax (“IHT”) whereby applications for a ‘Grant on Credit’ no longer require Personal Representatives (“PR”) to seek commercial loans to pay IHT before they are able to apply for the Grant.
Sharon Burkill
Natalie Cohen
Caroline Sheldon
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