Murray Beith Murray LLP is a leading Scottish private client law firm.
For 175 years we have specialised in meeting the legal, financial and administrative needs of individuals and families, family trusts, charities and private companies.
HMRC has made temporary changes to its Inheritance Tax (IHT) processes to minimise delays to its service during the COVID-19 outbreak. The emergency measures have been implemented to ensure the department’s service can continue as smoothly as possible while the Government’s restrictions remain in place.
As we wrote in our articles of 26 November 2018 and 20 March 2019, the Scottish Government intends to update the rules on what should happen if someone dies intestate (without a Will), in an attempt to fairly reflect a diverse and modern society.
The death of a loved one is a difficult time, and if you have concerns about the validity of their Will and whether their true intentions will be honoured, this can add to your distress.
It is understandable that the current lockdown is having a significant impact on courts in Scotland and challenging for the Scottish Courts and Tribunals Service (SCTS) to prioritise essential court proceedings.
If COVID-19 has taught us anything, it is the importance of being prepared for any eventuality. At the present time, many individuals are understandably worried about their business, property, savings, and personal assets. Having worked incredibly hard during your lifetime to build up your estate, it is entirely reasonable to worry about what Coronavirus may mean for you and your loved ones. The important point to remember through all of this is that you can put in place measures to protect your estate at any time, assuming you have the capacity to do so. The peace of mind afforded by making even small steps towards effective estate planning cannot be underestimated. Remember too, specialists in estate planning law are here to help and guide you through the process of working out a suitable strategy and then putting it in place without delay. In this article, we will explain just three of the estate planning mechanisms you should consider and implement to mitigate the potential effects of Coronavirus.
