Insights

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How to deal with social media accounts as an executor

Monday, 16 August 2021

Murray Beith Murray

Executry

If someone close to you has passed away, the last thing you may be thinking about is how to deal with their social media accounts. However, for many, photos, videos and posts on a deceased’s social media accounts can be a source of comfort through the grieving process. Eventually, you will need to consider how best to deal with these social media accounts and other online accounts, sometimes known as the deceased’s ‘digital legacy’. In this article, we look at your options for handling a loved one’s social media accounts after they have passed away.

Inheritance tax payments rise 33% from 2020

Wednesday, 11 August 2021

Andrew Paterson

Inheritance

Inheritance tax (“IHT”) payments have increased in yield by a third, according to data recently released by HM Revenue & Customs (HMRC). HMRC collected £1.5 billion in Inheritance tax (IHT) in the tax year to June 2021. This represents a £400 million increase from the same period a year ago.

Working from home tax relief – explained

Tuesday, 10 August 2021

Murray Beith Murray

Tax

If you are required to work from home, including due to the COVID-19 pandemic, you can claim for the increased cost of things such as internet, phone bills and equipment for the time you spend at home. While the working from home allowance is not new, the rules have changed slightly and more people may be eligible as a result of the lockdown restrictions.

What happens to a joint bank account when one party dies?

Wednesday, 04 August 2021

Murray Beith Murray

Executry

If you hold a bank account jointly with your spouse, civil partner, or another person, you may be concerned about what will happen should one of you pass away. Will you still have access to the account? Do you own all of the funds in the account? What forms part of the deceased’s estate? We understand that this may already be a difficult time for you, so in this article, we set out simply what happens to a joint bank account under Scottish Law when one party has passed away. Please note that different rules apply under the law of England and Wales to joint accounts held there.

Why online Wills don’t work for most

Monday, 02 August 2021

Fraser Scott

Wills

You may have considered making a Will online, and we understand why that may seem appealing. It is quick, easy and you can fill in the form without having to discuss your personal life with a solicitor. You may be concerned about the costs, and a cheap online Will might seem like the perfect solution. However, online Wills are not as straightforward as they may seem and can cause many issues for you and your loved ones later on. In this article, we look at the reasons why online Wills are not suitable for most people.

How to deal with social media accounts as an executor

Inheritance tax payments rise 33% from 2020

Working from home tax relief – explained

What happens to a joint bank account when one party dies?

Why online Wills don’t work for most

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