Families urged to plan ahead to reduce their inheritance tax bill

Sian Foster, Director, Wills & Probate at Ware & Kay incorporating Pearsons & Ward Solicitors in York is encouraging people to plan ahead to help reduce their inheritance tax (IHT) bill.  Latest figures from HMRC show that inheritance tax receipts have risen by 7.2% since last year. By taking advantage of available tax reliefs and planning carefully, families can make sure their loved ones pay the smallest tax bill possible and get the most out of what they inherit. The Association of Lifetime Lawyers represents a community of the most qualified legal professionals in the UK supporting vulnerable and older people with expert advice and support.   Sian, a member of The Association of Lifetime Lawyers says there are precautionary steps to take if you plan for family members to inherit part, or all of your…

Recovering money from an individual or company debtor  

It is an unfortunate part of business life that at some point you are likely to experience problems with an individual or company that does not pay. You have carried out your work efficiently and with no problems or complaints but when you send out the invoice the customer makes excuses and promises that payment is on its way but then they start to avoid your calls and you suspect that they are experiencing cash flow issues. In that, hopefully unusual, situation it is important that you know what to do so that you can maximise your prospects of recovering the debt. One option is to issue court proceedings. However, the court process can be slow and so before embarking on court proceedings it is worth considering whether serving a statutory demand is a faster and…

Property litigation – who owns the land?

Farms are often handed down through many generations, often without any legal documentation, with title to the farm land and buildings invariably being unregistered and frequently being difficult to fathom. On a day-to-day basis, this might not present a problem but certain life events, such as death, divorce, retirement, bankruptcy or farm sale, or indeed where a legal dispute arises, may make it necessary to establish who owns what and on what basis, as Johanne Spittle, Director, Litigation & Dispute Resolution and agricultural specialist at Ware & Kay and Pearsons & Ward in Malton, York & Wetherby explains.  Farms can be owned in many ways, such as by a partnership, limited company or trust. It is advisable to have a written agreement in place for all these models, setting out how assets are owned, the process…

Climate change, what to consider when selling a property

Climate change is likely to affect most if not all our homes, and homebuyers are much more conscious of environmental issues nowadays, which is something to be aware of if you are selling. ‘If your home is already affected, other properties in your neighbourhood probably will be too. Often, you can improve your chances of a successful sale by showing you have considered any issues and taken steps to address them,’ says Lucy Gilman, Associate Director with Ware & Kay incorporating Pearsons & Ward. Adverse incidents, like flooding, often seem like a twofold blow; once when you experience the stressful event itself, and again when you must disclose it on sale. That is why it is so important to discuss any concerns with a solicitor you trust, someone who can advise you of the legal…