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Keeping the peace at Christmas – top tips for shared parenting over the festive season
Lauren Evans
Legal recognition of relationships has dramatically changed in the UK and across most western countries. With an urge for equality and to recognise same-sex relationships, the government first introduced civil partnerships for same-sex couples in 2005 and subsequently same sex-couples could legally marry from 2014.
Let’s start by saying that our position has always been, and remains, that it’s never wise to take tax planning steps that you wouldn’t otherwise consider on the back of rumour or double-guessing what changes might be made in an upcoming budget.
The UK government has confirmed that the amount a surviving spouse or civil partner is entitled to receive in England and Wales where a person dies intestate (without a valid will) leaving children will be increased. The statutory legacy will be increased by £20,000 from £250,000 to £270,000. The changes will come into force on 6 February 2020.
The will trust is enjoying a renaissance. The decision by increasing numbers of people to leave their estates by will in trust, rather than outright, is not the product of any tax changes; contrary to popular belief, tax considerations are rarely the main driver for setting up a trust.
Serious difficulties can arise where a sole shareholder dies who is also the sole director of a company.
Lauren Evans
Roberta Draper
Christopher Perrin
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