News

Sunir Watts and Sophia Smout explain the importance of planning for the future in Taxation

  • January 11, 2024
  • By Sunir Watts, Partner and Sophia Smout, Trainee Solicitor

Sunir and Sophia’s article was published in Taxation, 8 January 2024, and can be found here.

Thy will be done

Key points:

  • If someone dies without making a will the intestacy rules determine who will inherit the deceased’s assets.
  • The intestacy rules prioritise spouses or civil partners – there is no provision for partners who are unmarried or not in a civil partnership.
  • Making a will is essential to allow that testator to appoint executors and trustees of their estate.
  • It is important also to consider putting in place lasting powers of attorney.

According to recent research published by Canada Life, more than half of adults in the UK do not have a will. The survey, based on 2,000 adults, also revealed that one in three of those aged 55 and over have not made a will. Most of those surveyed felt that their assets were insufficient to merit making a will, while others were of the opinion that their loved ones would automatically inherit their wealth, regardless of whether a will was in place or not. Other reasons ranged from feeling that there was plenty of time for a will to be written, and not knowing how or where to start.

Read the full article [subscription required]: Importance of will planning

Related News

Feb 16, 2024
Daniel Watson considers historians’ criticisms over proposed plans to digitise Wills
Feb 15, 2024
Daniel Watson explores the digitisation of Wills in FTAdviser
Feb 05, 2024
Sunir Watts explains how to make use of Inheritance Tax gift exemptions in ThoughtLeaders4 Private Client magazine
Jan 29, 2024
Wilfrid Vernor-Miles discusses the ‘side hustle tax’ and how HNW might be impacted in Tatler
Jan 08, 2024
Vanina Wittenburg discusses tax tips when donating culturally significant assets in Accountancy Daily
Dec 11, 2023
Mary Elliott and Louise Garrett discuss electronic Wills and how to safeguard vulnerable individuals
Nov 30, 2023
Lara Barton comments on the importance of writing a Will in Tatler
Nov 24, 2023
Preserving culturally significant assets (sometimes gardens) for the nation
Nov 07, 2023
David Draisey comments on Joseph Safra’s estate litigation in eprivateclient
Oct 27, 2023
Daniel Watson and Sophia Smout discuss gifts with reservation of benefit in Taxation

               

© Hunters Law LLP 2024 | Privacy NoticeLegal & Regulatory | Cookies Policy | Complaints Procedure

Hunters Law LLP is authorised and regulated by the Solicitors Regulation Authority (number 657218)

>