Save Inheritance Tax on your Business

If you are married and own a business, it is very common for the business-owing spouse to leave their whole estate, including their interest in the business, to their spouse on death. At that stage, there will then be no inheritance tax to pay, because of the spouse exemption from inheritance tax. This exemption means... Continue Reading →

Can I remove an executor during probate?

Is it possible to remove the executor appointed in somebody's Will, after their death? The executors of the Will are under a duty to wind up the deceased's estate, to obtain a grant of probate or letters of administration if appropriate, and and in general to carry out their duties carefully, following the terms of... Continue Reading →

Lasting Power of Attorney Fraud

An interesting and alarming programme about Lasting Power of Attorney fraud recently aired on Radio 4's "You and Yours". It describes how criminals are using fraudulently created Lasting Powers of Attorney to sell people's houses without their knowledge. The victim of the fraud in this case is a woman who had moved out of her... Continue Reading →

Happy Birthday to Chiltern Wills!

Today is the second anniversary of my setting up in business as Chiltern Wills, now Chiltern Wills LLP. It's been such an exciting time starting from scratch, building up the business and seeing it begin to flourish, and I've learnt a huge amount along the way. I'd intended to have a soft start and to... Continue Reading →

Gifts out of Surplus Income

Possibly one of the most generous inheritance tax exemptions available relates to making gifts out of your surplus income. There is no upper limit to the amount which can potentially be given away tax-free, within the bounds of your own income and subject to your own regular spending requirements. If gifts of this type are... Continue Reading →

Emigrate to avoid tax

We pay a lot of inheritance tax on death in this country - usually 40% on anything over the first £1m owned by a married couple - and so you'd be forgiven for thinking it might be a good idea to emigrate in order to avoid tax. The weather would probably be better, anyway. Whether... Continue Reading →

Professional Executor

Should you appoint a professional executor in your Will? I know from my time working at several law firms before I set up my own business that many solicitors encourage their clients to appoint one of the partners of the firm, or the firm's trustee company, as a professional executor in their Will. I also... Continue Reading →

Up ↑

Call us now