Why Do I Need a Will? I’ll Sort That When I’m Older
Common Misconceptions About Who Inherits Your Estate When There Isn’t a Will The tragic death of 31 year old One Direction singer Liam Payne in October 2024 has shed light on the complications and unintended consequences of not having a Will in place. His £24 million estate is now due to his eight year old […]
Paying for Care Costs: What You Need to Know in 2025
Taking steps of moving, or helping a loved one move into a care home can be a stressful time. It is important that the financial implications are fully understood. The average rates of Care Homes in Scotland for residential care is £1,439* per week (£74,828 per annum) and for nursing care is £1,549* per week (£80,548 […]
Acting As a Financial (Continuing) Attorney in Scotland
You have been appointed as a continuing (financial) attorney and now require to use your powers. Any actions taken by you or decisions made by you should comply with the guiding principles of the Adults with Incapacity (Scotland) Act 2000 and you should look at the Codes of Practice for Attorneys in Scotland. Your duties: Good practice: When […]
‘Special Destinations’ – Not So Special?
Among the excitement of purchasing a property together, the question of how the ‘title’ to the property should be taken is often only given a quick thought. Very little time is spent on considering what it means to include or not to include a ‘special destination’ in the title and the consequences this may have […]
What Happens When a Will Is Lost?
When a Will is made, several decades may pass before it is required. In that time a number of events could take place which cause the original Will to be misplaced. Examples being the testator moving home and losing it or the solicitor who prepared it not storing it correctly. Unfortunately accidents do happen however […]
Gifting Property- Tax Implications
Gifting property is one way clients may wish to consider when looking at reducing the value of their estate for inheritance tax purposes. There are tax implications to consider and the rules vary according to each individual set of circumstances. If a property is given away or sold at less than market value taxes will […]
