Sir Bruce Forsyth left his entire £11.7m estate to his wife, who took over control of Bruce Forsyth Promotions a month before he died. The move meant 40% IHT did not need to be paid. He left nothing to his children but Lady Forsyth is now free to give away £650,000 without paying extra in tax. The legendary TV presenter was outspoken about IHT, saying once that he thought it was “over the top”.

Daily Star, Page: 7 Daily Express, Page: 3

Posted 20/09/2018

The Mail issues a warning to readers considering using cheap will-writing services that claim to save people time and money by cutting out solicitors. It says budget DIY wills can include enormous hidden fees and extra charges.

Daily Mail, Page: 44

Posted 12/09/2018

Britons left a record £2.85bn to charity via gifts in wills last year. Health and cancer charities were the biggest beneficiaries with Cancer Research UK, Macmillan Cancer Support and the British Heart Foundation in the top five. The data, secured from research conducted by Smee & Ford, is released to coincide with Remember A Charity in Your Will Week, which runs from September 10-16.

The Sun Daily Mirror

Posted 10/09/2018

Rising property prices and a spike in winter deaths helped push up IHT receipts to £5.2bn in 2017/18 – up 8% year on year – according to HMRC figures. IHT receipts have risen 10% on average every year since 2009/10 while the nil-rate band – the threshold above which individuals pay inheritance tax – has remained frozen at £325,000.

Financial Times, Page: 2 City AM Daily Mail, Page: 2 The Times, Page: 6 The Daily Telegraph, Page: 8 City AM, Page: 13

Posted 01/08/2018

Several papers pick up on a report from Which? showing six out of 10 Britons have not made a will, leaving millions at risk of dying intestate. Of those who didn’t make a will, 38% said that they had nothing worth inheriting, 20% said that writing a will had not occurred to them, and 16% said that they had been too busy. More people in England had made a will than in other regions – 42% compared with 35% in Wales and 31% in Scotland – with the highest levels in the southwest and the lowest in London.

The Times, Page: 56 Daily Mirror, Page: 20 The Sun, Page: 26 Daily Express, Page: 37 The Herald, Page: 11

Posted 23/06/2018

 

The Resolution Foundation believes inheritance tax should be scrapped and replaced by a system that spreads the money more fairly between the generations and is harder to avoid. The think-tank has proposed replacing IHT with a lifetime receipts tax that would raise more for the state and would encourage families to pass their wealth to younger members. Under the proposal, each beneficiary would have a £125,000 inheritance allowance, above which they pay 20% up to £500,000 and 30% beyond that. Resolution estimates that the new tax would deter avoidance and raise £11bn a year in 2021, compared with £6bn under the present system.

The Times, Page: 40 The Daily Telegraph, Page: 2 The Scotsman, Page: 19 Daily Express, Page: 31

Posted 02/05/2018

 

A carer has been left with an £85,000 legal bill after a judge ruled she had “guided the hand” of a millionaire on his deathbed to sign over almost half of his £1m estate to her family. Judge Nigel Price said that he had “no hesitation” in ruling that Marcel Chu’s will was invalid.

Daily Express, Page: 22 The Daily Telegraph, Page: 11 Daily Mail, Page: 33 The Times, Page: 11

Posted 01/05/2018

The Telegraph explains how a couple could add almost £100,000 to their child or grandchild’s pension and reduce any potential IHT bill by utilising their annual gift allowance. Data published by Prudential said if a couple were to gift £3,000 each into their child’s pension every year for a decade, the amount added to the pension would be valued at £97,051, with a potential IHT saving of £24,000.

The Daily Telegraph

Posted 19/04/2018

 

 

A judge has overturned the will of millionaire Wynford Hodge who had left nothing to his partner of 42 years, Joan Thompson, instead leaving his £1.5m fortune to two tenants living in his caravan park. Mr Hodge was adamant that he did not want Joan or her four children to inherit any of his fortune, a letter attached to his will indicated, believing she was “financially comfortable”. The judge said this was an error and awarded her a cottage on the estate worth £225,000 plus £190,000 in cash.

Daily Mail, Page: 24

Posted 10/04/2018

Family solicitors say accessing and dealing with someone’s digital legacy is becoming as great a concern as how to divide up their house and bank accounts. They are increasingly drawing up “digital wills”, including a side letter recording passwords and passcodes to devices such as iPads. Solicitors are also urging clients to back up important data on cloud storage that can be accessed by family members after their death. “While most digital assets are not of monetary or financial value they can be of sentimental value and a comfort to your next of kin after your death,” says Ian Bond, the chairman of the Law Society’s wills and equity committee, who has been drawing up guidance for solicitors on how they should deal with digital legacies. The importance of planning ahead is highlighted by reports that some bereaved families have asked undertakers to use a corpse’s fingers to activate identity se nsors on smartphones and tablets.

The Times, Page: 11 The Times, Page: 65

Posted 24/03/2018