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.
Inheritance Tax (IHT) planning is key to ensuring your loved ones keep as much of your estate as possible after you die. There are a variety of ways to mitigate against the effects of IHT and using a Will is just one of them. The simple answer is yes, you can avoid Inheritance Tax with a Will. Below we will look at some of the options available to you. Of course, IHT is only a problem if your estate exceeds £325,000.
When it comes to family businesses, there is an old adage that goes “The first generation makes it, the second generation maintains it and the third generation blows it”. In a family business, there are tensions and expectation not only across the generations but amongst those involved in managing the business and those who are not.
Whilst every family business is different, there are common themes running through them, not least the important of succession planning.
Murray Beith Murray Private Client Partner, Peter Shand appeared in The Scotsman earlier this month, explaining why paintings, prints and porcelain may need as much tax planning as pensions or property portfolios. Read the full article below, republished by kind permission of The Scotsman:
The short answer to this question is “No”. However, getting divorced can have a serious impact on your Will. The Succession (Scotland) Act 2016 radically changed the Act of the same name from 1964, with the impact of divorce being centre stage. So, whilst divorce does not revoke a Will in Scotland, ignoring it can have serious consequences.
Murray Beith Murray Private Client Partner, Peter Shand writes in The Scotsman today. Read the full article below, republished by kind permission of The Scotsman:
