In a recent Supreme Court decision the Court upheld the wishes of a mother who decided not to make provision for her daughter in her Will. In Scotland we have the important concept of "Legal Rights" which prevents children from being disinherited in the way that can take place in England. Here's what you need to know about Legal Rights.
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Latest articles from Samantha Taylor
For deaths occurring on or after 6 April 2017, a new Residence Nil Rate Band (RNRB) allowance for Inheritance Tax has become available in addition to the existing nil rate band of £325,000 per person. The RNRB allows individuals to leave a house to direct descendants with some or possibly all of the property value being free of inheritance tax. The RNRB, once it has been fully introduced, could result in a £140,000 saving.
With the end of the 2016/2017 tax year fast approaching (5th April) you might want to consider making the most of the certain reliefs or allowances before they are lost.