Making gifts on behalf of a protected party (“P”) can be seen as carrying out their wishes and feelings and/or helping a person closely connected or related to them. However, an attorney/deputy has specific powers which do not extend to
Private Client Law Blog
The Private Client Law Blog, published by Kingsley Napley, covers legal issues related to personal and family matters including estate planning, inheritance tax, asset valuation, and the legal treatment of gifts. It addresses practical concerns such as protecting pets in family transitions, implications of public compensation schemes on inheritance tax, and guidance on powers of attorney and deputies. The blog also discusses tax changes affecting individuals, including capital gains tax and international taxation. Its content is focused on the intersection of private client law with financial and family circumstances, providing insights into legal processes and regulatory updates relevant to personal wealth and family law.
Latest from Private Client Law Blog - Page 2
Relocation, relocation, relocation….
Is your camel’s back broken yet? Or will this year’s Autumn Budget be the proverbial last straw?
Rachel Reeves’ Autumn Budget in 2024 not only brought in an immediate increase to capital gains tax (CGT) rates, but also announced a…
YouGov poll ahead of November Budget shows over half of the British public want complete abolition of IHT
A YouGov poll* commissioned by law firm Kingsley Napley shows 54% – over half of the British public – now want a complete abolition of Inheritance Tax (IHT), up from 49% a year ago.
Preserve it and save: how conditional exemption can protect your heritage… and your wallet
With significant changes to Inheritance Tax (IHT) reliefs for agricultural and business property due to take effect in approximately seven months, affected individuals are exploring every available planning strategy to mitigate the impact. For those who are asset-rich but cash-poor,…
Top 10 reasons still to use Trusts: the 800 year old solution to tomorrow's problems
The English trust has a fascinating history. It dates back to medieval times, when knights heading off on crusade would hand over their land to someone they trusted to manage it in their absence. This practice laid the foundation for…
IHT kite-flying ahead of the Autumn Budget
There have been a flurry of media reports that the Treasury is considering changes to the IHT regime at the next Budget in the form of a gifting cap or amending the tapering rules on gifting. The reports make clear nothing…
Capacity to enter into a prenuptial agreement
In this blog we consider whether a pre-nuptial agreement is a good option to help protect the estates of vulnerable individuals in the event that their marriage should come to an end.
Empowering entrepreneurship – a young man with cerebral palsy and his journey to business ownership
This case study highlights the inspiring journey of a young man, Louis who was born with cerebral palsy (CP) and with the support of his Deputy, Deputyship team and family has transformed his passion for dogs into a small business,…
Action for Brain Injury Week – fluctuating capacity
The Child Brain Injury Trust reports that every 90 seconds, someone in the UK is admitted to hospital with an acquired brain injury, and every 15 minutes, a child in the UK acquires a brain injury. While many will make…