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Keeping the peace at Christmas – top tips for shared parenting over the festive season
Lauren Evans
The New Year is the perfect time to make a Will. People in their 20s often think they do not need a Will, particularly if they are single and do not consider themselves to be particularly ‘well off’. Preparing a Will is not something you should delay. Here are 10 good reasons why you should make a Will now, regardless of your age.
With Christmas less than a week away, you may now be panicking about what to give your loved ones. Rather than join the chaos of the last minute Christmas shoppers, you might consider giving a cash gift this Christmas.
Sibling concern over equal treatment can linger well into middle age and beyond; it reveals itself after a parent’s death or during their old age through arguments over who has had what and who’s going to get what. We’re not legally obliged to leave our estate to our children in equal shares or, indeed to leave them anything at all.
Saving Inheritance Tax (IHT) on death by making a gift and surviving by seven years is standard tax planning sanctioned by statute. However, if you make a gift but ‘reserve a benefit’ in the property given, it will still be brought into charge on death, regardless of how long you survive.
As a famous proponent of ‘swearing’ Gordon Ramsay might be amused to learn that from the end of November 2018, personal representatives will no longer need to formally swear an oath before receiving a Grant of Representation.
Lauren Evans
Roberta Draper
Christopher Perrin
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