Murray Beith Murray LLP is a leading Scottish private client law firm.
For 175 years we have specialised in meeting the legal, financial and administrative needs of individuals and families, family trusts, charities and private companies.
If you have separated or divorced or are currently going through a divorce or separation, perhaps the last thing you might think about is updating your Will. However, it is one of the key elements of the separation and divorce process solicitors will advise you to deal with immediately.
It would be fair to say that solicitors who deal with estates sometimes need to spend time trying to discover whether someone who has died, made a Will whilst they were alive. Clients who make a Will should be applauded. However, having done that, it is important to decide where the Will should be stored and who should know about it.
Inheritance Tax (IHT) planning is key to ensuring your loved ones keep as much of your estate as possible after you die. There are a variety of ways to mitigate against the effects of IHT and using a Will is just one of them. The simple answer is yes, you can avoid Inheritance Tax with a Will. Below we will look at some of the options available to you. Of course, IHT is only a problem if your estate exceeds £325,000.
You might say it is a matter of life and death. Basically, an attorney deals with the affairs of someone whilst they are alive whilst an executor deals with the affairs of someone who has died. Whilst that might seem simple and straightforward, it is important to understand the different functions of an attorney and an executor.
When there is a charity appeal, there is no doubt that the Scots are generous! The wish to “give back” has grown over the years, and never more so in gifting to charities through a Will. Recent consumer research conducted by Remember a Charity concluded that the number of people deciding to make a charitable donation through a legacy in their Will has increased by 43% in the last 10 years. But how do you go about leaving a legacy in your Will?
