Lucy Duffin

Minimising inheritance tax with lifetime gifts

Many people do not consider themselves to be wealthy enough to be affected by inheritance tax and unfortunately get caught out by life’s final taxation. With over 28,000 estates liable for inheritance tax in 2016-17, it’s worth looking at ways to legally minimise the amount of inheritance tax your beneficiaries are likely to have to…

Making a will whilst in self-isolation

In these strange and unprecedented times the Law Society are reporting a huge increase of people understandably either making or updating their wills or setting up a Power of Attorney. Something in the order of a 30% increase on the average. Possibly unsurprising but the process itself is not without its challenges at this difficult…

5 reasons your DIY will may be invalid

People often contact us to ask whether a DIY will, such as the sort that you can buy off the shelf on the high street or online, or even prepare yourself with some online guidance, is actually legally binding and valid. The truth is that it very much depends on a number of factors. The…

Planning ahead to save the farm

It is a sad fact that farmers’ families often face huge inheritance tax bills if effective succession planning has not been implemented. Tax relief is currently available, but many don’t receive it because the required processes have not been followed. Alarmingly, an NFU Mutual survey in 2017 found that less than 50% of farming families…