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Murray Beith Murray is a leading Scottish private client law firm.

For over 170 years we have specialised in meeting the legal, financial and administrative needs of individuals and families, family trusts, charities and private companies.

Call us today on 0131 225 1200
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What you need to know about the transferable nil-rate band

carolinepringle

When a person dies, a certain amount of the estate they leave behind can be passed on to their loved ones free of Inheritance Tax. If the person does not use their tax-free allowance, they may pass this on to their spouse or civil partner - this is known as the transferable nil-rate band. In this post, we look at how the transferable nil-rate band works and answer some of the questions you may have.

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The importance of Estate Planning for cohabiting couples

Thousands of couples across Scotland chose to live together without getting married – for a wide variety of reasons. However, what most fail to realise is that without proper estate planning, they may be at risk of becoming involved in complicated legal matters.

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How to get your estate planning in order from home

Murray Beith Murray

As Scotland has now moved into Phase 3 of their route map out of lockdown, tight physical distancing measures still remain in place to prevent any further spread of COVID-19. While these measures are in place, you can still take valuable steps towards planning for your estate after you die, or in the event that you lose mental capacity. For many, estate planning may be a matter of urgency or concern at this time. As a result, the Law Society of Scotland has introduced interim guidance to ensure compliance with both social distancing measures and the law of Wills, Trusts and estates. Here’s what you need to know about estate planning during the coronavirus pandemic.

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Succession and Estate Planning during the COVID-19 outbreak

peter

In what is an unprecedented time, it is important that you can continue to manage your personal legal affairs in the most efficient way possible and feel supported in doing so. 

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What do all the headlines about Inheritance Tax changes mean?

SOPHIE

The Office of Tax Simplification (OTS) published its second report earlier this month which provides recommendations to the Treasury on the simplification of Inheritance Tax (IHT).  Although the remit of the report was to simplify existing policy, rather than to propose different policy, the recommendations would lead to a significant change in existing tax planning strategies.  The report highlights that the inconsistencies and complexity of the existing rules lead to a difference in tax paid between individuals who seek specialist advice and the large number of people who do not seek advice.  The OTS anticipates that this difference would be narrowed if the recommendations were implemented.

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