When two or more people die together – and they own joint assets – it is important to discover who died first. If this cannot be established, it is assumed that the deaths occurred in order of age. In other words, the oldest person died first.
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Are you thinking about gifting your loved ones this Christmas? With the right advice, you can make these gifts tax exempt. This ensures that if you die within the next seven years, the gifts will not be considered part of your estate – and therefore will not be subject to Inheritance Tax
If you’ve inherited a property that took some time to sell, you may be due a refund from the taxman.
Around two thirds of the UK’s population of adults have not made a Will. But do you know what happens to your assets if you die ‘intestate’? Many are surprised to learn they can actually end up with the Crown.
When buying a property, it is important that you understand the different forms of legal ownership: freehold, leasehold, or commonhold.
New Capital Gains Tax (CGT) rules are on the way which may affect couples who are splitting up and plan to sell their home eventually, accidental landlords and those who have bought a new home without selling their old property.
If you are planning to develop a commercial property in a conservation area, legal advice is essential. If you break the rules, you could find yourself in trouble.
Selling part of your business property for development is a good way to raise capital. However, there are lots of things to consider before you go ahead with the sale. If you do not put the right measures in place, you could regret your decision later on.
If your commercial lease is up for renewal, now is the time to renegotiate the terms and conditions. The draft lease will likely be prepared by your landlord’s solicitor, and so will almost certainly favour your landlord. However, you can always push back to get yourself a better deal. You are perfectly entitled to do […]
It’s not uncommon for some of our mental capabilities to decline as we age. Many people find their memory gets worse; and processing speed, reasoning and executive functions can also slip as the years pass us by. Unsurprisingly, therefore, many people need a helping hand with finances as they get older.
Thanks to soaring house prices, it is increasingly difficult for young people to get a foot on the property ladder and consequently the bank of mum and dad is often called upon to help out. In fact, parents assist with one and five property purchases, making them the UK’s tenth biggest lender, according to the Times. Unfortunately, few families record the nature of their arrangement in writing and this can cause difficulties down the line.
A change at the top can often bring a boom to the economy but with Brexit looming will Boris Johnson prove to be a boon to the UK housing market.
A Lasting Power of Attorney gives someone you trust the ability to manage your financial affairs for you, should you become unable. It allows you to nominate one or more Attorneys who can help if you are incapacitated or at any other time with your permission.
A review of inheritance tax (IHT) rules has led to recommendations that the Government make it simpler for people to pass wealth on to future generations.
The case of S Frances Ltd v The Cavendish Hotel has important implications for commercial landlords who wish to terminate a tenant’s lease.
The Law Commission is currently analysing responses to a consultation on commonhold. Their report is due to be published later this year. The aim is to reform commonhold laws, making it a preferred alternative to leaseholds.
A new cap due to be rolled out for the Help to Buy scheme in April 2021 will make it difficult for first time buyers in the North to find affordable properties.
An Executor is responsible for applying for a Grant of Probate and administering a deceased person’s estate.
When Probate is needed on a deceased person’s estate, the Executors or Administrators often use a Probate solicitor. If you are going through the Probate process, there is no obligation to use a Probate solicitor. However, it removes a significant responsibility from your shoulders. To speak to a Probate solicitor, contact us now for a […]
A commercial solicitor helps sole traders, businesses, and other organisations (such as public bodies) with a wide range of legal matters, including property, compliance, tax and disputes. If you would like to know more about how our commercial solicitors can help you, contact us for a free initial enquiry. Call us now on Southport 01704 […]