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Rebuilding lives after brain injury: the role of the Court of Protection
Jemma Garside
Today, the new Labour government announced its eagerly awaited budget. In this special briefing our private client and tax experts consider what the announcements will mean for you, your family, and your business.
It is reported that same sex couples are statistically more likely to live together without marrying or entering into a civil partnership than heterosexual couples, and there is a mistaken belief that ‘common law spouses’ or ‘common law marriages’ exist in the UK. There is no such thing as a ‘common law marriage’ and, subject to any future changes to cohabitation laws (laws relating to couples who live together but are not married/in a civil partnership), cohabitants do not have the same legal rights as married couples or civil partners upon divorce or dissolution.
This has been one of the most anticipated / dreaded budgets for some time, with clear noises coming from Rachel Reeves that she is going to tax wealth. This has led to panic amongst anyone with investments, cash, valuable property, businesses and pensions. What does it mean for them and what should they do before the budget?
Family trusts have always been a traditional feature of estate planning, a well-known means of passing on wealth to the next generation and potentially reducing Inheritance Tax (“IHT”) on an estate. However, Family Investment Companies (“FIC”) have become increasingly more attractive over the last 10 years because of their structure and tax advantages. In the meantime, we have seen the popularity of trusts decline, perhaps due to their archaic nature, negative press coverage and a less sympathetic tax regime for trusts. Are FICs the new Trusts or is there room or both?
As so many families that we advise now live across several countries, and particularly in France, we regularly get asked whether Lasting Powers of Attorney made in the UK and registered with the Office of the Public Guardian can be recognised in France.
Jemma Garside
Lord Carter of Haslemere CB
Nikola Southern
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