News
In April 2019, H M Treasury published its consultation concerning the government’s approach and its plans for the implementation of the EU Fifth Money Laundering Directive (5MLD) into national law.… Read more →
News
On 1 April 2019, HM Revenue & Customs published its consultation concerning the changes to Capital Gains Tax (CGT) and Private Residence Relief. Briefly, Budget 2018 announced that the final… Read more →
News
Introduction The freedom to leave your estate to whom you wish is a hallmark of the law of succession in England and Wales. In contrast to most other European countries,… Read more →
Bulletins
WELCOME FROM THE EDITOR Welcome to the Summer 2019 edition of In Trust. In this issue, we bring together a range of articles to provide you with a general “wealth… Read more →
News
You might wonder why our tax year runs from 6 April one year to the 5 April the following year.This question was posed recently by a client and we therefore… Read more →
News
As reported in the last issue of In Trust, the Government is consulting on making the taxation of trusts fairer, simpler and more transparent. Wedlake Bell submitted a response to… Read more →
News
In the last issue of In Trust, we reported that the Government had reintroduced its controversial proposals to increase fees for Probate applications in England and Wales from a flat… Read more →
News
Q: Tell us a little about yourself and your expertise I am a Partner at Wedlake Bell. I have been practising for over 12 years, advising on Private Client work… Read more →
News
Senior Associate Oliver Embley answers all your questions. A protective trust is designed to protect a beneficiary from claims by creditors. Often a beneficiary will have a life interest in… Read more →
News
The Government has consulted on some changes proposed to lettings relief and the final period exemption for Capital Gains Tax (“CGT”) and Principal Private Residence Relief (“PPR”). If they go… Read more →
News
On 14 May 2019, Caroline Miller and Clare Armitage from our Private Client Team, Conrad Adam from our Family Team and Edward Craft from Corporate, hosted a seminar on Estate… Read more →
News
The new tax year (6 April 2019) brought further changes to the taxation of UK property owners by extending the Capital Gains Tax (“CGT”) rules to non-UK resident owners making… Read more →
News
“To B, or not to B: That is the Question: Whether ’tis Nobler in the Mind to Suffer the Slings and Arrows of Outrageous Fortune, or to Take Arms Against… Read more →
News
Whatever the causes of and solutions to Britain’s ongoing housing crisis, it is a truth fairly universally acknowledged that we need to build more homes. For those with land to… Read more →
News
City law firm, Wedlake Bell, is proud to announce that Camilla Wallace, Head of Private Client Group at Wedlake Bell has won Woman of the Year at Citywealth’s prestigious Magic… Read more →
News
As clients become increasingly global and sophisticated in their asset base, the issues that advisers must consider become ever more complex, write Caroline Miller and Clare Armitage. The digital era… Read more →
News
Ann Stanyer, writes an article for eprivateclient. The Office of the Public Guardian (OPG) reports each year with an update on their work in registering powers of attorney and in… Read more →
News
Ann Stanyer highlights ‘red flags’ signalling potential financial abuse that all advisors should watch out for, wherever they are based. Financial abuse is on the rise. The England and Wales… Read more →
Clive Weber and Caroline Miller are discussing the key considerations for estate and pension planning and looking at the various options available when considering the best way of devolving ones… Read more →
News
2019 Spring Statement reaction: Overshadowed by Brexit but tax evasion and avoidance still ‘extremely high’ on government’s agenda Yesterday’s (13/03/2019) Spring Statement by Chancellor Philip Hammond was overshadowed by Brexit… Read more →
News
On 9 November 2018, following a commitment in the Autumn Budget 2017, HM Revenue and Customs published “The Taxation of Trusts: A Review“, a consultation paper looking at how trusts… Read more →
News
The current cost of applying a grant of probate in England and Wales (the document giving the personal representatives legal authority to take charge over the deceased’s affairs) is set… Read more →
News
The article was originally published by the New Law Journal on 27 February 2019. The duties of a deputy appointed by the Court of Protection are not to be taken… Read more →
News
The article was originally published by eprivateclient on 14/02/2019. It is not uncommon for clients who want to make or update their Will to come in to see their solicitor… Read more →
News
The Government announced in November that it is reintroducing its controversial proposals to increase the costs of applying for grant of probate that they originally tried to get through Parliament… Read more →
News
Private Client Hub originally published the article on 17 October 2018 The Office of Tax Simplification (“OTS“) published a consultation on inheritance tax (“IHT“) in April 2018 and we are… Read more →
Uncategorized
As technological advances have an increasing impact on every aspect of our business and personal interactions, it is important that the law remains relevant as technology and practice evolves. The… Read more →
News
The article was originally published by Spear’s, on 24 January 2019. Being aware of the need for will instructions to be given freely and independently is key, writes Ann Stanyer… Read more →
News
The article was originally published by ePrivateClient on 21/01/2019. Inheritance Tax (IHT) looks set to change. Last year, Philip Hammond commissioned a review by the Office of Tax Simplification (OTS)… Read more →
News
A Will is a legal document in which a person declares their intention as to what should happen to their assets after their death. You are not legally obliged to… Read more →
News
Probate fees The Government announced on 5 November 2018 that it is reintroducing its planned reforms to probate fees in England and Wales, originally put on hold in April 2017.… Read more →
News
Irrespective of political views, most people agree that we are living in uncertain and changing times. Might immigration rights change? Will we see changes to the rates of personal and… Read more →
News
The case of KA v MA (2018) highlights the role that pre-nuptial agreements have in preserving family wealth, confirming that when a pre-nuptial agreement is entered into, it is possible… Read more →
News
My mother and my father made wills around ten years ago leaving everything to the surviving spouse and then equally to me, my brother and my sister on the second… Read more →
News
Q: Tell us a little about yourself and your expertise I joined Wedlake Bell at the start of October from another top 100 London law firm. I specialise in advising… Read more →
News
Inheritance tax (“IHT”) is set to change. Earlier this year, Philip Hammond commissioned a review by the Office of Tax Simplification into three aspects of Britain’s so-called “most hated” tax,… Read more →
News
You may have a Lasting Power of Attorney (“LPA”) that appoints persons (“attorneys”) to look after your financial affairs and/or health and welfare at a time in the future when… Read more →
Bulletins
Welcome from the editor A warm welcome to the Winter 2018/19 edition of In Trust. In this issue we bring together a range of articles to highlight how we can… Read more →
News
The article was originally published by Spear’s on December 19, 2018. Legal action against Attorneys has skyrocketed Legal action against Attorneys has skyrocketed, and mostly people aren’t aware they’re doing… Read more →
News
The article was originally published by eprivateclient on 28/11/2018. The domicile trap – Meghan Markle It has been reported that the Duke and Duchess of Sussex have instructed a firm… Read more →
News
The article was first published by Spear’s on November 10, 2018. As incidents of financial abuse against the are on the elderly increase, its important to look at rigid LPA’s,… Read more →
News
The Law Commission published its consultation paper “Electronic Execution of Documents” (“the Consultation Paper“) on 21 August 2018. The objective behind the Consultation Paper was to consider whether there are… Read more →
News
The UK Parliament debated a ten-minute rule Bill to legislate to ‘stop putting marriages before Wills’, following concerns that vulnerable elderly people are being exploited by later-life suitors who marry… Read more →
News
Income Tax and Capital Gains tax have been affected by changes to the deemed domicile rules in force from 6 April 2017. This webinar will provide you with a guide… Read more →
News
The article was originally published by eprivateclient on 13 November 2018. Camilla Wallace, partner and head of private client & Rosalyn Breedy, partner and head of funds, Wedlake Bell. It… Read more →
News
The article was originally posted by the Financial Times on 7/11/2018. Can my half-sister challenge our father’s will? My elderly father has died and left most of his assets to… Read more →
News
STEP Journal is the first publisher of the article: Ann Stanyer, ‘Roadblocks to abuse’, STEP Journal (Vol26 Iss8), p.61. It is the practitioner’s duty to ensure the elderly client is… Read more →
News
Budget 2018 Private Client news: at a glance CGT main residence relief will not be available for let property unless occupation is shared with the tenant CGT main residence relief… Read more →
2018 eprivateclient Top 35 under 35 – Men Oliver was mentioned in eprivateclient’s article as one of the top 35 under 35 in the mens category. Oliver also feautred in eprivateclient’s… Read more →
News
City law firm Wedlake Bell is pleased to announce further growth of its Private Client Group which has been strengthened by the recent addition of Partner, Matthew Braithwaite, who joins… Read more →
News
Who’s Moving Where In Wealth Management? Lockhart, Wedlake Bell, Others London law firm Wedlake Bell has added Matthew Braithwaite, a partner to its private client group. He joins from Bircham… Read more →
News
Can I force my brother to sell his share of our flat? My parents bought me and my brother our London flat from our family trust. It is in both… Read more →
News
The article was orignally published by the Professional Adviser on 22 August 2018. Kate Johnson: HMRC’s Requirement to Correct rules explained Time is running out… “Clients should be encouraged to make use… Read more →
News
Congratulations to our Private Client team who have been shortlisted in the ‘STEP Private Client Legal Team of the Year (midsize firm)‘ category of the 2018/19 Private Client Awards. Good… Read more →
News
Wedlake Bell is a central London law firm that has been servicing its clients for over 200 years. It has 61 partners and is one of the top 100 firms… Read more →
News
This article was first published on Lexis®PSL Private Client on 10 July 2018. Click for a free trial of Lexis®PSL. Private Client analysis: Ann Stanyer, partner at Wedlake Bell, highlights the key points of the Law Society’s response… Read more →
Bulletins
Clients often ask us as to whether their English Power of Attorney (either a Lasting Power of Attorney – an “LPA” – or its predecessor, an Enduring Power of Attorney… Read more →
Bulletins
Q: Tell us a little about your practice and what you particularly enjoy. My clients tend to have more of an international focus. For example, they might be UK nationals… Read more →
Bulletins
Traditionally, if you had assets in an EU country, it was generally recommended to take legal advice in that country on making a Will there. However, this all changed on… Read more →
Bulletins
Senior Associate Oliver Embley answers all your questions I was born in the United States when my father was working there. I gather that this might have tax problems. Could… Read more →
Bulletins
Welcome From the Editor A warm welcome to the Summer 2018 edition of In Trust. Through increasing globalisation, we are seeing an ever growing number of our clients with international… Read more →
Bulletins
The Inheritance (Provision for Family and Dependants) Act 1975 (“the Inheritance Act”) enables certain categories of people to bring a claim for financial provision from a deceased person’s estate, even… Read more →
Bulletins
Tier 1 investors and entrepreneurs should make urgent moves to keep a record of their overseas travel, under strict new government guidance on permitted absences. The Home Office has changed… Read more →
Bulletins
Undeclared offshore assets are firmly on the radar of H M Revenue and Customs (“HMRC”) in furtherance of the government’s continued crackdown on tax evasion and avoidance. HMRC have recently… Read more →
News
H M Revenue and Customs (“HMRC“) has launched a new regime to encourage UK taxpayers to disclose undeclared offshore assets before 30 September 2018. This also applies to trustees of… Read more →
News
Andrew O’Keeffe, Head of our Private Client Team, has had his responds to a reader’s question on inheritance for The FT. On the issue of contesting a re-written Will, Andrew… Read more →
News
On 19 January 2018, the government requested that the Office of Tax Simplification (“OTS“) carry out a review of inheritance tax in order to identify simplification opportunities. The scoping document… Read more →
Bulletins
The Department for Business, Energy and International Strategy recently published the government’s response to its “call for evidence” last year on proposals for a register showing who owns and controls… Read more →
News
Financial Abuse of Older Clients written by Private Client Partner, Ann Stanyer, has been reviewed by STEP journal. (£) The review calls Ann’s publication “concise and accessible” going on to… Read more →
News
We are pleased to announce that Wedlake Bell has been ranked in Tier 2 of eprivateclient’s 2018 Law Firms ranking, which aims to recognise “the UK law firms providing high quality… Read more →
News
Q: My wife is a beneficiary of the Will of someone who died in February 2009. One of the other beneficiaries predeceased this person and no clause was inserted in… Read more →
News
We need tougher rules on lasting powers of attorney but the Ministry of Justice appears indifferent. It is clear from surveys and research carried out in other countries that financial… Read more →
News
Care Home Professional have given further coverage to Private Client partner, Ann Stanyer’s, recent Freedom of Information request to the Care Quality Commission. The FOIA found that in the four… Read more →
News
eprivateclient has published an article on the outcome of Private Client partner, Ann Stanyer’s, request under the Freedom of Information Act (FOIA) to the Care Quality Commission (CQC). On the… Read more →
News
Following her recent Freedom of Information request to the Care Quality Commission, Ann Stanyer has commented for Yahoo! News on the data, which reveals nearly 13,000 cases of potential financial… Read more →
News
Private Client partner and author of “Financial Abuse of Older Clients“, Ann Stanyer, has commented on her recent Freedom of Information request to the Care Quality Commission in The Daily… Read more →
News
Partner in our Private Client team and author of “Financial Abuse of Older Clients”, Ann Stanyer, commented on data from her recent Freedom of Information request to the Care Quality… Read more →
News
Partner in our Private Client team, Ann Stanyer, delivered a webinar for Solicitors for the Elderly (SFE) (£) on financial abuse on 8 February 2018. Ann, who recently published a book… Read more →
News
Partner, Caroline Miller, and Solicitor, Andrew McIntyre, have responded to a reader’s question for Choice Magazine. Responding to a complex issue surrounding joint Wills, Caroline and Andrew wrote, “claims [under… Read more →
News
Partner in our Private Client team, Ann Stanyer, has responded to a reader’s question on financial abuse of the elderly in the Financial Times. Ann, who authored a book entitled… Read more →
News
Partner and Head of our Private Client Group, Camilla Wallace, has had her comments on inheritance and succession to the Peerage published in the Financial Times, in response to a… Read more →
News
Private Client Partner, Ann Stanyer, has commented in Spear’s Magazine on the forthcoming Government consultation on the taxation of trusts, and why this and other compliance regimes could mean 2018 will… Read more →
News
Partner and Head of Private Client Team, Andrew O’Keeffe, has written a new article on the importance of planning ahead for Wills for Spear’s Magazine. The article, published on 22… Read more →
Bulletins
In July 2017, the Law Commission issued its long-awaited reform project on the law of Wills. The law largely derives from legislation passed in 1837 and there have long been… Read more →
News
I am a trustee of a trust which owns a property which is rented out. My aunt has the right to receive the income and, on her death, the capital… Read more →
Bulletins
A trust in Islamic law is known as “Waqf”. Literally, “Waqf ” means to stop, contain or to preserve and is a voluntary, permanent, irrevocable dedication of one’s wealth to… Read more →
Bulletins
In recent years, trustees have seen the introduction of new compliance regimes aimed at tackling money laundering and terrorist financing. The recent attention-grabbing headlines concerning the Paradise Papers data leak… Read more →
Bulletins
Much has been said and written recently about the use (or misuse) of trusts, mostly in the context of tax avoidance and money laundering, and the related introduction of additional… Read more →
News
The Chancellor, Philip Hammond, delivered his first Autumn Budget on 22 November 2017. The main headline was the abolition of stamp duty land tax (SDLT) for first-time buyers for properties… Read more →
News
Following the release of the Chancellor’s ‘largely uncontroversial’ Autumn 2017 Budget, Private Client Partner, Ann Stanyer, has given her insight on the likelihood of reforms to the taxation of trusts to eprivateclient. She states,… Read more →
Bulletins
We are pleased to announce that Head of the Private Client Group, Camilla Wallace, and Head of Family, Charmaine Hast, have been recognised in the 2018 eprivateclient 50 Most Influential… Read more →
Bulletins
Consultation Response: Wedlake Bell LLP On 13 July 2017, the Law Commission launched a major consultation project on the law of Wills. The law in this area has not been… Read more →
Bulletins
Although many non-doms are more likely to be worse off with the government’s tax reforms, there are practical measures to cushion the impact, writes Camilla Wallace. Non-domiciliaries (‘non-doms’) have been… Read more →
Bulletins
On 13 July 2017, the Government confirmed that it will introduce a second Finance Bill 2017 soon after the Parliamentary summer recess to implement those policies withdrawn from the Finance… Read more →
Bulletins
The increase in people registering LPAs is heartening, but there are concerns that some attorneys are taking advantage of the ease with which they can be prepared, warns Ann Stanyer.… Read more →
Bulletins
WELCOME FROM THE EDITOR It is my pleasure to welcome you to this issue of In Trust. In the wake of the shock General Election result and newly-formed minority Government,… Read more →
Bulletins
Senior Associate Oliver Embley answers all your questions. My mother was making regular gifts to me before she lost capacity to manage her affairs I am her attorney under a… Read more →
Bulletins
Over the past twelve months there has been a spate of cases where property purchasers have been duped into dealing with a seller who is not the true owner. Although… Read more →
Bulletins
Two contentious probate cases have recently caught the press’s attention: Ilott v The Blue Cross and Martin v Williams. In Ilott, an estranged daughter was claiming a share in her… Read more →
Bulletins
As of 6 April this year a new inheritance tax (“IHT”) “residence nil-rate band” (“RNRB”) applies where the family home is left to children, grandchildren and other “qualifying beneficiaries on… Read more →
Bulletins
Ann is a partner in the Private Client team and her practice covers a wide range of trust, probate and private wealth management work for both large, complex estates and… Read more →
Bulletins
If you have a family business that is run though a corporate structure, there could be advantages to simplifying the group. This could be for a number of reasons, including… Read more →
Bulletins
The controversial plan to introduce a banded system for probate fees, with a maximum fee of £20,000 for estates over £2 million, was dropped due to lack of Parliamentary time… Read more →
Bulletins
The last six months have seen some major developments in private client practice in respect of the elderly. This includes the Law Commission’s review of the deprivation of liberty safeguards… Read more →
Bulletins
Solicitors and legal academics have called for new powers enabling people to decide what happens to their digital legacy when they die, including by making a provision for online data… Read more →
Bulletins
For every instance of financial abuse that comes to light, 24 cases are thought to go unreported so, says Ann Stanyer, professional advisers have a real gatekeeper role to play… Read more →
Bulletins
Many assume that couples who are neither married nor in a civil partnership but who live together (“cohabitants” for the purposes of this article) have a “common law marriage” entitling… Read more →
Bulletins
In this extract from Choice Magazine (www.choicemag.co.uk), Oliver Embley, Senior Associate in the Private Client Team, answers a reader’s question on Will trusts. Should we update our Wills? Q: Back in… Read more →
Bulletins
In this article for Trusts and Estates Law & Tax Journal (May 2017), Wedlake Bell partner Emma Loveday, discusses the reforms to the taxation of non-domiciliaries (non-doms). This article was… Read more →
Bulletins
Whilst one Inheritance (Provision for Family and Dependants) Act 1975 (‘1975 Act’) case has dominated the headlines (Ilott v The Blue Cross [2017] UKSC 17) there has been another recent… Read more →
Bulletins
At last, some good news for Generation Y. According to a recent Royal London survey, a cascading wall of wealth – around £400bn – is predicted to descend from the… Read more →
News
Wedlake Bell is pleased to announce that Kim Lalli has been elected as the firm’s Senior Partner. This will be for a four year term that begins on 1st January… Read more →
Bulletins
With 42 per cent of marriages ending in divorce, it’s important when advising wealthy clients to put mechanisms in place to protect family assets. Jenny Cutts provides a guide on… Read more →
Bulletins
Inheritance tax (“IHT”) is charged on your death at the rate of 40% based on the value of your assets. This 40% rate is only charged on any value exceeding… Read more →
Bulletins
Administering another ‘death tax’ will create problems for solicitors, who also question whether it is right for the bereaved to subsidise the courts and tribunal service. A death tax’ which… Read more →
Bulletins
On 15 March the Supreme Court ruled on the landmark case of Ilott v The Blue Cross (previously Ilott v Mitson), a claim originally brought by a daughter excluded from… Read more →
Bulletins
Emma Loveday provides a snapshot of the status of consultations affecting the private client practitioner. Looking back, 2016 has been a year of change for many reasons, and the private… Read more →
Bulletins
Disappointingly, the Ministry of Justice has confirmed that it is going ahead with its controversial proposals to increase the costs of applying for grant of probate under which the maximum… Read more →
Bulletins
How much money can I give away to my children without tax penalties? Jenny Cutts answers a readers questions in the Financial Times published 8 March 2016. To view the… Read more →
Bulletins
The Chancellor, Philip Hammond, delivered his first and last Spring Budget to Parliament on 8 March 2017. There were no big personal taxation surprises, fuelling speculation that more significant policy… Read more →
Bulletins
Jenny Cutts was quoted in the Law Gazette about how administering another ‘death tax’ will create problems for solicitors, who also question whether it is right for the bereaved to… Read more →
Bulletins
As baby boomers sail through their lives with comfortable pension pots, it is high time they lend a hand to the struggling new generations, writes Emily Minett. A quarter of… Read more →
Bulletins
Jessica Cousins, Solicitor in the Private Client team answers a readers question in Choice Magazine published on 1 February 2017. Q. My wife and I are both in our 80s… Read more →
Bulletins
You don’t need to just ‘let it be’, the 1975 Act is there to protect against victims of vindictive spouses or parents, write Caroline Cook and Katie Turney. The death… Read more →
Bulletins
With 42 per cent of marriages ending in divorce, it is important when advising wealthy clients to put mechanisms in place to protect family assets. Jenny Cutts and Rosie Schumm… Read more →
Bulletins
The ‘unprecedented’ amount of data the Revenue will receive from CRS-jurisdictions puts them in a stronger position of power, writes Camilla Wallace. As from October 2017, H.M. Revenue and Customs… Read more →
Bulletins
The founders of SwiftKey (a British technology company) recently agreed to sell their London-based business to Microsoft for £174 million ($247 million). The founders are in their 30s and will… Read more →
Bulletins
On 18 February 2016 the government announced proposals to dramatically increase the costs of applying for a grant of probate. Currently, the maximum fee payable to obtain probate is £215,… Read more →
Bulletins
The Chancellor’s Budget on 16 March 2016 contained positive news for private clients, with reductions to the capital gains tax (“CGT”) rates, extension of CGT entrepreneurs’ relief, and the introduction… Read more →
Bulletins
The law and practice concerning Wills, succession and inheritance tax is ever-changing. Over the past year, we have seen the introduction of the European Succession Regulation affecting Will writing for… Read more →
Bulletins
Victoria Mahon de Palacios, Senior Associate in the Private Client team at Wedlake Bell, and a specialist in Court of Protection and elderly client work, discusses the recent case Re… Read more →
Bulletins
When it comes to writing a Will, clients very often, quite understandably, want their Will to be as simple and as straightforward as possible. But where (amongst other reasons) the… Read more →
Bulletins
Victoria Mahon de Palacios, a senior associate in the Private Client Team, summarises recent developments in the wealth management industry, including the upcoming changes to the taxation of non-domiciliaries and… Read more →
Bulletins
It was announced in the Summer Budget on 8 July 2015 that an additional inheritance tax (“IHT”) nil-rate band will be introduced from April 2017 for the family home, so… Read more →
Bulletins
Background In 2013, George Osborne announced in his Autumn Statement that a new capital gains tax (CGT) charge would be introduced from April 2015 in relation to non-UK residents who… Read more →
Bulletins
Background Back in 2008 the Finance Act introduced sweeping changes to the way non-UK domiciled individuals resident in the UK were to be taxed. The Government’s principal objective was to… Read more →
Bulletins
Most people will have a clear idea of what their personal possessions or “personal chattels” are but, if asked to list these, few would include items such as “carriages”, “stable… Read more →
Bulletins
The period following the bereavement of a loved one is a particularly difficult time, especially for a widow or widower. This can be even more stressful if there is a… Read more →
Bulletins
There was an important victory reported recently for the tax-payer in a long-running inheritance tax (“IHT”) case: Buzzoni and others v HMRC [2013] EWCA Civ 1684. The outcome is good news for… Read more →
Bulletins
The Finance Bill 2014, published on 10 December 2013, contained further details of the changes announced in the Chancellor’s Autumn Statement on second home “flipping” for capital gains tax (CGT).… Read more →