Estate planning news uk

Here are some recent estate planning news stories from the UK:

  1. Inheritance Tax Threshold to Increase: The UK government has announced that the inheritance tax threshold will increase from £325,000 to £500,000 from April 2022. This change is expected to benefit many families and reduce the number of people who have to pay inheritance tax. (Source: BBC News)
  2. New Will-Making Rules for Digital Assets: The UK's Ministry of Justice has introduced new rules to help ensure that digital assets, such as cryptocurrencies and online accounts, are properly dealt with in wills. The changes aim to provide greater clarity and protection for individuals and their families. (Source: The Law Society Gazette)
  3. Estate Planning for Blended Families: A recent survey by the UK's Society of Trust and Estate Practitioners (STEP) has highlighted the importance of estate planning for blended families. The survey found that many people are not adequately planning for the distribution of their assets after death, which can lead to disputes and uncertainty for their loved ones. (Source: STEP)
  4. New Trusts Act to Simplify Trust Administration: The UK government has introduced a new Trusts Act, which aims to simplify the administration of trusts and reduce the burden on trustees. The Act introduces new powers for trustees to make decisions without needing to go to court, and provides greater flexibility for trusts to adapt to changing circumstances. (Source: The Law Society Gazette)
  5. Estate Planning for Business Owners: A recent report by the UK's Institute of Chartered Accountants in England and Wales (ICAEW) has highlighted the importance of estate planning for business owners. The report found that many business owners are not adequately planning for the transfer of their business after death, which can lead to uncertainty and disruption for their employees and customers. (Source: ICAEW)
  6. New Guidance on Lasting Powers of Attorney: The UK's Office of the Public Guardian has published new guidance on lasting powers of attorney (LPAs), which are used to appoint someone to make decisions on behalf of an individual who lacks mental capacity. The guidance aims to help individuals understand their rights and responsibilities when appointing an attorney. (Source: Office of the Public Guardian)
  7. Estate Planning for Expats: A recent article by the UK's Financial Times has highlighted the importance of estate planning for expats. The article notes that many expats are not adequately planning for the distribution of their assets after death, which can lead to uncertainty and complexity for their loved ones. (Source: Financial Times)
  8. New Will-Making Rules for Co-Ownership: The UK's Ministry of Justice has introduced new rules to help ensure that co-owned properties are properly dealt with in wills. The changes aim to provide greater clarity and protection for individuals and their families. (Source: The Law Society Gazette)
  9. Estate Planning for Charities: A recent report by the UK's Charity Commission has highlighted the importance of estate planning for charities. The report notes that many charities are not adequately planning for the distribution of their assets after death, which can lead to uncertainty and disruption for their beneficiaries. (Source: Charity Commission)
  10. New Guidance on Estate Planning for People with Disabilities: The UK's Disability Rights Commission has published new guidance on estate planning for people with disabilities. The guidance aims to help individuals with disabilities understand their rights and responsibilities when planning for their future care and financial arrangements. (Source: Disability Rights Commission)

These are just a few examples of recent estate planning news stories from the UK. It's always a good idea to stay up-to-date with the latest developments in estate planning to ensure that your wishes are carried out after your death.