http://www.wilson-nesbitt.com/articles/ Wilson Nesbitt Solicitors - Wills 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/828/20062008/civil_partnership_split_warning.html People considering entering into a civil partnership in Northern Ireland should consult solicitors and plan carefully before taking the vows, it has been advised.According to the Law Society, entering into a civil partnership invalidates any existing will so both partners will need to consult... Fri, 20 Jun 2008 13:45:00 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/750/07052008/iht_problems_for_unmarried_couples.html Co-habiting couples who are not married or in civil partnerships are not entitled to the same inheritance tax (IHT) benefits as those who are, a firm of independent financial advisors has warned.Alex Pegley, director of Calculis, said that there is no such thing as a 'common law... Wed, 7 May 2008 13:33:00 BST http://www.wilson-nesbitt.com/articles/735/30042008/sisters_lose_out_in_inheritance_tax_battle.html A pair of co-habiting elderly sisters has been told by the European court of human rights they have not been discriminated against under UK inheritance tax (IHT) regulations.The sisters had claimed that they should be entitled to the same IHT allowances as a married or civil partnership... Wed, 30 Apr 2008 14:00:00 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/613/18022008/iht_generous_to_small_businesses.html Solicitors in Belfast and Northern Ireland are often asked to write up wills for small business owners indicating that the family firm will be left to another member.As solicitors will know, currently Inheritance Tax laws (IHT) covering Belfast and Northern Ireland mean that small businesses can... Mon, 18 Feb 2008 12:45:00 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/408/11102007/widow_forced_to_settle_with_husbands_ex-wife.html Solicitors in Northern Ireland will have watched an unusual case with interest, as a woman whose husband died only hours after they married has been forced to pay £100,000 to her groom's ex-wife.Three Court of Appeal judges ruled that as Owen Soulsbury had promised his former wife,... Thu, 11 Oct 2007 12:30:00 BST http://www.wilson-nesbitt.com/articles/365/18092007/old_wills_obstruct_new_changes.html Solicitors have said that a will should be updated "every time something really significant happens in your life, whether it's a change in family circumstance, change in financial circumstance or, if you're aware of it, a significant change in law". Mills Kemp and... Tue, 18 Sep 2007 15:12:37 BST http://www.wilson-nesbitt.com/articles/354/11092007/update_your_will_every_five_years.html Despite the fact that two thirds of people in Britain and Northern Ireland have no will prepared, experts advise that people should visit their solicitors to update their wills every five years to accommodate changes in circumstances. According to Barclays Wealth, 63 per cent of adults have not... Tue, 11 Sep 2007 13:13:10 BST http://www.wilson-nesbitt.com/articles/334/24082007/accountants_despair_of_clients_not_making_wills.html An accountancy firm has publicly denounced the complacency that seems to be sweeping the country after research revealed that only ten per cent of people in Britain and Northern Ireland have put a will in place.The main excuse that people use for not having made a will is simply 'not getting... Fri, 24 Aug 2007 10:30:00 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/127/14052007/solicitors_seeing_more_unusual_cases.html Around two million people seek legal advice a year and although some cases will always be in a solicitor's daily remit, people are increasingly seeking advice for more unusual matters.According to a survey by TakeLegalAdvice.com, nearly 60 per cent of people consult a solicitor when moving... Mon, 14 May 2007 13:30:00 BST http://www.wilson-nesbitt.com/articles/110/04052007/more_nationals_to_suffer_dementia.html News that dementia in Northern Ireland is expected to increase by over 25 per cent over the next decade means that those approaching senior citizenship should visit their solicitors earlier to ensure their will is in place while they still enjoy full mental cognition.Taking into account the... Fri, 4 May 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/64/28032007/more_ni_over-90s_than_ever.html The number of people in Northern Ireland who are aged 90 or more has seen an unprecedented rise over the last decade, according to government statistics.An estimated 8,300 citizens aged 90 or over were recorded living in Northern Ireland in the last official survey in 2005, an increase of more... Wed, 28 Mar 2007 14:15:00 BST http://www.wilson-nesbitt.com/articles/59/26032007/ni_couples_tie_the_knot_younger.html Couples in Northern Ireland get engaged and married younger than anywhere else in the UK, a new study has shown.A survey commissioned by wedding suppliers Wedding Invitation UK shows that people from Northern Ireland agree to settle down at an average age of 21.3 years and then marry at 22.6,... Mon, 26 Mar 2007 16:30:00 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 http://www.wilson-nesbitt.com/articles/28/06032007/young_people_unwilling_to_make_a_will.html The fact that only thirty per cent of adults in the UK and Northern Ireland have a will, findings of a survey by Will Aid, begs questions about which sections of the public are least likely to have drafted one. Anne Young, spokesperson for Scottish widows commented: "In many ways I... Tue, 6 Mar 2007 00:00:00 GMT http://www.wilson-nesbitt.com/articles/27/05032007/will-writing_essential_for_unmarried_couples.html Solicitors would advise that an accurate and current will is essential in passing on inheritance to a partner to whom you are not married.The latest survey by Will Aid has shown that one in seven people either have an outdated will or none at all.The law in Northern Ireland states that if there... Mon, 5 Mar 2007 14:10:00 GMT