Insights

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Updating your Will and estate plan after divorce

Monday, 28 March 2022

Adam Swayne

Wills Asset Protection

Going through a divorce is never easy and can cause much upheaval to your life and future plans. After you have reached a divorce settlement, you may need to reconsider a number of estate planning matters. Most people include their spouse in their Will and give them Power of Attorney. The law does make some provisions for divorce to avoid unwanted scenarios. However, reviewing your Will and ancillary matters is the only way to ensure that your wishes are carried out. In this article, we look at the key things that you should do after divorce.

What is IHT share loss relief?

Thursday, 24 March 2022

Jennifer Gray

Tax

If you are an executor, it is the role of your solicitor to advise you as far as possible on matters related to the valuation of the estate and the inheritance tax (IHT) liability. Executry advice is often time sensitive, but the volatility and downturn of many markets in the last few years provides an additional challenge for executors - the valuation of shares. In this article, we look at share loss relief, when it occurs and how to make a claim.

It is not too late to carry out tax planning in the current tax year

Monday, 21 March 2022

David Windram

Tax

As the end of the current tax year approaches now is a good time to review your tax and financial position. Making use of available allowances and exemptions could potentially avoid unnecessary tax payments. There are a number of options to mitigate your exposure to tax and some of these may be applicable to your individual circumstances.

Can estranged spouses claim legal rights?

Thursday, 17 March 2022

Andrew Paterson

Asset Protection

Many couples who plan to divorce live separately for several years. Also, some married couples do not intend to divorce or reconcile and simply live as estranged partners for the rest of their lives. However, staying married to a partner with whom you are no longer in a relationship may have unintended consequences for your estate.

Trustees - Your questions answered

Friday, 25 February 2022

Kathryn Johnston

Trusts

If you are considering setting up a trust in Scotland, we understand that you may have some questions. Trusts can be a useful means of protecting family wealth, providing for loved ones, and mitigating your inheritance tax liability. However, it is important you understand how to choose trustees, and that those trustees understand their obligations. This article provides an overview of some questions about trustees in Scotland.

Updating your Will and estate plan after divorce

What is IHT share loss relief?

It is not too late to carry out tax planning in the current tax year

Can estranged spouses claim legal rights?

Trustees - Your questions answered

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