Insights

Leaving your family home to your children and the impact on inheritance tax

19th Apr 2026

For many of us, leaving the family home to our children is something that is important to us. The question is, when is the best time to do this? Should you gift it to them now or leave it to them in your Will? Here, we explain what you should be considering when making this decision.

Potentially exempt transfers and gifts with reservation

17th Jul 2025

When you carry out succession planning, one of the key elements is to consider whether to gift part of your wealth now or wait until your death. If you decide to gift assets whilst you are alive, certain rules apply for Inheritance Tax (IHT) purposes. Key to understanding whether the gift you make will be exempt from IHT is to understand the rules surrounding “potentially exempt transfers” and “gifts with reservation”.

The Pitfalls of Joint Bank Accounts

30th Jun 2025

Joint bank accounts are a popular option amongst couples and other groups of people who have a shared responsibility for paying bills, such as housemates. They can also be useful when someone is assisting an elderly relative in managing his or her finances.

Strategies for estate planning and the blended family

17th Dec 2024

Estate planning for the blended family can be challenging. Deciding what to do with your estate when you and your partner share children can be relatively straight forward most of the time. However, when you live in a blended family, getting the balance right might be more problematic.

Can an Attorney acting under a Power of Attorney change a Will in Scotland?

21st Nov 2023

A properly drafted Power of Attorney allows you to make provision in advance for the possibility that, at some stage, you require somebody else to deal with your financial or welfare affairs. However, it is important to understand what powers an attorney has under a Power of Attorney, and their limitations.