Manal Fouad

Writing a will is important, you have decided to do it finally and are considering doing it yourself. There are many templates and tools available online, along with vast amounts of information about the law and how to go about writing your own will. However, there are significant benefits to using a solicitor to write your will - not to mention the pitfalls of trying to do it yourself. In this article, we look at five reasons to use a solicitor to write your will. A solicitor knows what to…

When someone you love has passed away, the last thing you might be thinking about is debt. However, there are many misconceptions about debt and inheritance, and it is essential to understand your position.  Many people believe that when a person dies, the debt dies with them, but that is simply not the case. Similarly, it is a widely held belief that family members are personally responsible for paying debts, but this is not often true. In this post, we take a look at what happens to a person’s debts after they pass…

Coronavirus caused a lot of chaos and it has been a very turbulent time for us all. What is evidently clear is that everyone has been in the same situation and it is entirely natural to feel concerned about the impact on your family and your finances during difficult times. You can take control of the situation and put your future in your own hands by drawing up a Will and making Lasting Powers of Attorney, to ensure that you have peace of mind and have secured the future of…

Internet shopping may have boomed during lockdown, but many people have spent less than usual while forced to stay home, and those with spare money have an opportunity to make the most of inheritance tax reliefs on gifts to family and friends if they act swiftly. Giving away assets while you are alive can reduce the size of your estate for inheritance tax (IHT) purposes, and with IHT charged at 40 percent it’s worth doing a regular check on where you stand. Each person can pass on a maximum of…

The inheritance tax threshold is frozen until 2026 – but why is inheritance tax planning still important? If you intend to leave savings, property or other assets to family or friends after you die, you need to consider inheritance tax (IHT). It could cost your heirs up to 40% of their inheritance. By planning ahead, you can minimise IHT and ensure as much of your estate as possible reaches your loved ones. Understanding the tax-free allowance The tax-free inheritance allowance, known as the nil-rate band, allows your beneficiaries to inherit…

Farming succession planning is an essential part of running a family farm business. Effectively planning for the future allows you to protect your assets, safeguard your business, ensure continuity and provide for your family.Succession planning in the farming industry is also vital to the sector's viability as a whole. In this post, we look at some of the key things you need to consider when succession planning for your farming estate. Farming succession planning explained Succession planning isn't just about planning your retirement but ensuring a smooth transition for those…