An extended family have been able to rectify a trust document which would have prevented them benefiting in the way intended when the settlement was first drawn up. The case involved a farming business. The shares were originally held by a husband and wife team in the 1970s. The couple put a number of shares
The rising value of houses could turn inheritance tax into a major issue for thousands of families across the UK The problem is that the inheritance tax threshold has been frozen at £325,000 until 2018; by that time, house prices are expected to have risen by 25% It’s likely therefore that many people will
A father’s will has been declared valid despite a challenge from his daughter who was disinherited. The father had two sons and a daughter. After his wife died he went to live with one of his sons and his daughter-in-law. He transferred the proceeds of the sale of his house to his son. He later
A woman’s will has been declared invalid after a court ruled that it had been forged by her son. The woman originally made a will in 1999, stating that she intended to split her estate equally between her two children. The son claimed the mother made a new will while she was dying from cancer
Setting up a simple trust relating to his mother‘s home has saved a man and his wife several thousand pounds in capital gains tax. The case involved a woman who sold her house in 1996 to her son and his wife on condition that she was allowed to continue living there for the rest of
The High Court has upheld a 91-year-old woman’s will even though she was suffering from dementia at the time it was made. The law requires that when making a will, a person must have testamentary capacity – that is, they must fully understand what they are doing and the consequences of their decisions. However, in
If you have a will it is worth reviewing it on a regular basis, just reading it once a year and talking it over with your legal advisor can ensure that you keep it up to date and have in place a will that accurately reflects your wishes. It is not uncommon to see cases
The court heard that the man had originally made a will which benefited both his daughter and his sons. However, following a family dispute involving the sons and the daughter, the situation changed. The father wrote to both his sons telling them he was upset by the situation and asked them to engage in mediation
The amount families will have to pay in inheritance tax is set to increase by £3billion to £21billion over the next five years. The rise is due to the revival of the housing market, which is increasing the value of properties. Meanwhile, Chancellor George Osborne has announced he’ll be introducing new measures making it more
An elderly woman’s will which left half her estate to her neighbour to the detriment of her family has been rejected by the High Court. The judge held that it was unlikely that the woman fully understood what she was doing at the time when she made such an important decision. She had first made