http://www.wilson-nesbitt.com/articles/ Wilson Nesbitt Solicitors - Trusts and Trust Management News RSS feed en-gb email@wilson-nesbitt.co.uk info@flamegreen.com 30 http://www.wilson-nesbitt.com/articles/852/09072008/labour_mp_blames_lack_of_support_for_failure_of_inheritance_tax_amendment.html A Labour MP's proposal that siblings should be entitled to the same inheritance tax break as a married couple has been discarded.The Guardian reports that Frank Field's suggested amendment to the finance bill, which would have meant relatives who have resided together for more than ten... Wed, 9 Jul 2008 13:00:00 BST http://www.wilson-nesbitt.com/articles/842/30062008/moves_to_change_sibling_inheritance_rules.html Cohabiting siblings in Northern Ireland may soon receive the same rights as married and civil partnership couples regarding inheritance tax.An amendment has been proposed to the finance bill by Labour MP and former minister Frank Field.Under the plans, siblings who had lived together for ten... Mon, 30 Jun 2008 18:45:00 BST http://www.wilson-nesbitt.com/articles/797/03062008/trusts_a_great_opportunity_for_lessening_inheritance_tax.html Well-planned trusts can prove a "very effective way" to reduce inheritance tax liabilities and ensure that as much of your wealth as possible is passed onto the next generation, according to expert Karen Dent.In an article for the Journal, Ms Dent has described trusts and... Tue, 3 Jun 2008 18:03:00 BST http://www.wilson-nesbitt.com/articles/787/28052008/wills_need_to_be_regularly_reviewed.html Wills and trusts need to be regularly reviewed as the inheritance people are able to leave changes, according to the Law Society.The society claims that solicitors need to be consulted on the contents of wills regularly, particularly around a period of transition, for example when someone has to... Wed, 28 May 2008 13:57:00 BST http://www.wilson-nesbitt.com/articles/764/14052008/care_home_financial_advice_essential.html Taking financial advice about retirement and care home provision is "essential", Saga has claimed.The magazine, insurance and holidays provider for the over-50s, has welcomed Gordon Brown's review on social care issues but claims that people in this age group still need to... Wed, 14 May 2008 13:30:00 BST http://www.wilson-nesbitt.com/articles/760/13052008/having_a_will_ensures_money_passes_to_correct_inheritors.html Making a will is essential for those who want to influence what happens to their estate after they die, a financial expert has advised.David Kuo, head of finance at Fool.co.uk, said that there are a number of misunderstandings concerning estate planning and added that, contrary to popular belief,... Tue, 13 May 2008 13:56:00 BST http://www.wilson-nesbitt.com/articles/753/08052008/inheritances_twice_1997_level.html More people are liable to inheritance tax (IHT) bills as the average value of an inherited estate has risen to more than twice its 1997 level, according to a new study.The International Longevity Centre (ILC) has found that the average worth of an inherited estate has risen from its 1997 level of... Thu, 8 May 2008 13:54:00 BST http://www.wilson-nesbitt.com/articles/725/24042008/more_inheritance_tax_bills_being_reduced_by_giving_money_away.html The number of people giving away money before they die in order to reduce the inheritance tax (IHT) bill liable on their death is on the increase, according to Forum Wealth.Research by the independent financial advisory group discovered that more people are also trying to reduce the confusion... Thu, 24 Apr 2008 13:29:00 BST http://www.wilson-nesbitt.com/articles/706/10042008/women_in_northern_ireland_more_likely_to_be_responsible_for_family_finance.html Household finances are more likely to be controlled by the woman in the relationship, according to a new study by a child trust fund (CTF) provider.Research by Family Investments found that 59 per cent of women were the primary financial decision-makers, in comparison with 41 per cent of men.This... Thu, 10 Apr 2008 13:28:00 BST http://www.wilson-nesbitt.com/articles/697/07042008/ctfs_for_teenagers_not_wasted.html Teenagers would not waste large sum of money received on their 18th birthday, according to new research.The Children's Mutual has revealed the gulf between what parents think their children would spend £20,000 and how teenagers say they would actually treat the money.Some 19 per... Mon, 7 Apr 2008 17:18:00 BST http://www.wilson-nesbitt.com/articles/690/02042008/child_trust_funds_an_excellent_way_to_save.html In the current economic climate there is no "better gift" to give your child than a deposit for a mortgage, according to industry experts.Child Trust Funds (CTFs) enable parents to provide for their children in the future, creating a "nest egg" which will be... Wed, 2 Apr 2008 16:28:00 BST http://www.wilson-nesbitt.com/articles/606/08022008/ctfs_worth_%C2%A324bn_in_future.html The first group of children in Britain and Northern Ireland who have been eligible to set up a child trust fund (CTF) through a solicitor are looking at reaping around £2.4 billion in today's money when they reach 18, Children's Mutual estimates.This money includes the... Fri, 8 Feb 2008 12:00:00 GMT http://www.wilson-nesbitt.com/articles/578/23012008/trust_money_could_go_to_waste.html Money in child trust funds (CTFs) set up by solicitors on the birth of a child could go to waste if children in Belfast and Northern Ireland are not educated about how to control their cash, experts have warned.By the time children in Belfast and Northern Ireland turn 16-years-old, if they are... Wed, 23 Jan 2008 12:00:00 GMT http://www.wilson-nesbitt.com/articles/561/14012008/solicitors_essential_for_co-buyers.html With property prices in Belfast and Northern Ireland remaining high, many people may be tempted to buy a house with other people, but this should be entered into with caution and the help of a solicitor.First-time buyers in Belfast and Northern Ireland could find that co-buying is a good way to... Mon, 14 Jan 2008 21:15:00 GMT http://www.wilson-nesbitt.com/articles/552/09012008/iht_planning_should_start_early.html Inheritance Tax (IHT) need not be a burden and though it is advisable to start planning early, it is never too late to begin, financial advisers have said.For homeowners in Belfast and Northern Ireland, sitting down with a solicitor to plan how to deal with IHT should be done as early as... Wed, 9 Jan 2008 12:00:00 GMT http://www.wilson-nesbitt.com/articles/425/25102007/more_pensioners_in_the_province.html Solicitors in Northern Ireland are likely to see an increase in the number of people wanting to arrange their will, as national statistics show that there is an increasingly ageing population in the province.Northern Ireland's population, which was recorded as 1.742 million last year, is... Thu, 25 Oct 2007 13:00:00 BST http://www.wilson-nesbitt.com/articles/389/01102007/ethical_ctfs_show_future_thinking.html While most parents do invest money in stakeholder child trust funds (CTFs), Family Investments has said that a long-term investment in the ethical variety is the choice of families looking to the future. All children in Britain and Northern Ireland who were born on or after September 1st 2002... Mon, 1 Oct 2007 12:45:00 BST http://www.wilson-nesbitt.com/articles/359/13092007/upward_trend_for_ethical_trusts.html Solicitors in Britain and Northern Ireland are likely to see more clients setting up ethical child trust funds (CTFs), as more people become aware of environmental issues.A CTF is a tax-free savings and investment account for children born on or after September 1st 2002, which the government... Thu, 13 Sep 2007 11:45:00 BST http://www.wilson-nesbitt.com/articles/307/07082007/clever_couples_can_avoid_high_iht.html Married couples or those in a civil partnership can help to cut inheritance tax (IHT) by writing a nil rate band discretionary trust will, Willcare has advised. Couples in Britain and Northern Ireland can write up a will that incorporates two discretionary trusts, which means that upon death the... Tue, 7 Aug 2007 11:00:00 BST http://www.wilson-nesbitt.com/articles/303/03082007/ifa_hopes_parents_will_trust_in_ctfs.html An independent financial advisor (IFA) has said that the take-up of governmental Child Trust Funds (CTFs) is still disappointingly low but the industry hopes that parents will realise the benefits of investment in time. The regional manager of IFA Throgmorton, Colin Rothery, has said that CTFs... Fri, 3 Aug 2007 11:00:00 BST http://www.wilson-nesbitt.com/articles/294/30072007/accountants_face_greater_regulation.html Accountancy services in Britain and Northern Ireland will face greater regulation from December 15th 2007.Companies offering accountancy, tax, audit and insolvency services will be forced to undergo monitoring for compliance by an independent professional body or by HM Revenue & Customs,... Mon, 30 Jul 2007 09:15:00 BST http://www.wilson-nesbitt.com/articles/222/03072007/ni_children_get_less_cash.html Children in Northern Ireland receive less money than their peers in the rest of Britain, it has been revealed.Northern Ireland's Children and Young People Commissioner, Patricia Lewsley, has said that the province's youngsters are being short changed on spending across the fields of... Tue, 3 Jul 2007 12:30:00 BST http://www.wilson-nesbitt.com/articles/204/21062007/non-working_parents_can_still_invest_in_ctfs.html Family Investments has said that with more parents taking leave from work to look after their newborns, finances may be stretched, but that is no excuse not to build up a Child Trust Fund (CTFs) in different ways.A survey released by savings bank ING Direct found that in today's society 43... Thu, 21 Jun 2007 14:00:00 BST http://www.wilson-nesbitt.com/articles/166/30052007/hmrc_frustrated_by_ctf_take-up.html After one in five parents failed to invest their Child Trust Fund (CTF) vouchers, HM Revenue and Customs (HMRC) has invested the money on parents' behalf.Yet the downside is that the HMRC only makes this decision after 12 months, meaning that the funds are losing about £7.5 million... Wed, 30 May 2007 12:30:00 BST http://www.wilson-nesbitt.com/articles/102/30042007/hmrc_issues_childrens_trust_advice.html As this year's Baby Show embarks on a tour of the UK, HM Revenue and Customs (HMRC) has issued advice to parents about the benefits of Child Trust Funds and how they work.Advisors will be present at all the exhibitions, the latest of which is to take place in Birmingham on May 11th. Liz... Mon, 30 Apr 2007 19:30:00 BST http://www.wilson-nesbitt.com/articles/89/19042007/expert_says_nil-band_rate_case_proves_zero.html After a nil-band rate trust was ruled invalid by tax commissioners, many had feared that this method of cutting inheritance tax (IHT) would not work, but a leading expert has dismissed this as a fallacy. Julie Hutchison, estate planning specialist at Standard Life Assurance, says that the... Thu, 19 Apr 2007 14:30:00 BST http://www.wilson-nesbitt.com/articles/71/03042007/child_trust_funds_hit_record_highs.html More than 2.6 million children now have a trust fund set up for them, the government has revealed.The economic secretary, Ed Balls, announced that three quarters of parents in Britain and Northern Ireland had opened an account themselves, with the remainder set up by HM Revenue and Customs on... Tue, 3 Apr 2007 15:00:00 BST http://www.wilson-nesbitt.com/articles/69/02042007/beat_the_death_duty_through_giving.html On April 6th the new inheritance tax (IHT) nil band rate will jump to £300,000, meaning that now may be the time for some shrewd gifting.As the new rate comes in, and savings and shares add to value, people in Northern Ireland and Britain will increasingly look to solicitors to make the... Mon, 2 Apr 2007 13:30:00 BST http://www.wilson-nesbitt.com/articles/68/30032007/aged_could_help_the_young.html The Pensioners' Income Series 2005/6 has revealed that the average income of UK pensioners has risen to £292 a week - an increase of 27 per cent over a decade.Published on Wednesday, the figures, which are taken before housing costs, show that older people across Britain and... Fri, 30 Mar 2007 12:00:00 BST http://www.wilson-nesbitt.com/articles/55/23032007/make_the_most_of_your_nil_rate_band.html With the Budget announcement that the inheritance tax (IHT) threshold will be raised progressively until it reaches £350,000 in 2010, homeowners across Britain and Northern Ireland should be updating their wills accordingly.The exemption zone is still low compared to housing values, but... Fri, 23 Mar 2007 17:45:00 GMT