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.
If you have worked hard throughout your life to save for retirement, you want to be sure that should anything happen to you; your hard-earned savings can benefit your loved ones. Pensions should be a crucial part of estate planning as they are often some of the most valuable assets we own. In this article, we look at ways to pass on your pension, how to make pension contributions for loved ones, and why contributing to your own pension could be an effective form of estate planning.
In the digital age, social media is big business. Hundreds of thousands of people all over the world earn a living from social media accounts as ‘influencers’ or brand owners, and the accounts themselves accrue commercial value. However, the issue of whether a social media account can be passed on or inherited presents an entirely different set of circumstances than passing on other valuable assets. In this article, we look at how social media accounts may be passed on, and the steps you can take to protect these valuable assets.
If you have an art collection, you will no doubt be aware that it is a valuable asset. However, you may be unsure of the best way to leave this behind after you pass away. Collecting art is, for many people, a lifetime passion, and so it is important that it is left in the right hands. Unfortunately, many people fail to consider their art collection when making a Will, or are unaware that there are several ways to leave cultural assets behind. In this article, we look at leaving gifts of art in your Will, the Cultural Gifts Scheme, and how cultural assets might be valued after you pass away.
Every year, millions of pounds worth of cryptocurrency is lost forever because the owners of the currency failed to put a plan in place to leave it to loved ones. A 2020 study by the Cremation Institute indicated that 89% of cryptocurrency owners were concerned about what would happen to their cryptocurrency when they die. Despite this, many still fail to make a contingency plan to ensure that it can be passed on. In this article, we look at how to effectively pass on cryptocurrency through a Will.
There are many ways that couples might choose to formalise their relationship, whether that involves cohabitation, getting married or entering a civil partnership. The law in Scotland has recently changed to allow different sex couples to enter into a civil partnership. (See our previous blog, Mixed civil partnership). In light of this development, couples may wish to give some consideration to the differences in the treatment of these approaches in the law of succession.
