As we reported in 2015, a new RNRB is being introduced from 6 April 2017. The previous blog goes into detail about how the RNRB will apply to estates, this post will focus on recent developments. The “Residence” The property doesn’t actually have to be the deceased’s main residence or …Read Full Post →
All posts by Raveet Phull
Working out of Sherrards’ St Albans and London offices, Rav is an experienced Private Client Solicitor who deals with all matters related to Estate Administration, Trusts, Tax planning, Will drafting, Lasting Powers of Attorney and Court of Protection applications.
Rav has a special interest in Trust creation and administration and enjoys dealing with complicated international Estates.
Rav is a full member of the Society of Trust and Estate Practitioners (STEP) – a mark of quality in the field of Private Client law. Rav is also a member of The Private Client Section of the Law Society.
The dictionary definition of domicile is a place of residence. Legally, broadly speaking, it is an individual’s permanent home. The concept has applications in all areas of law, such as marriage, wills and succession. It is also widely used to determine an individual’s liability to various taxes in the UK. …Read Full Post →
In July 2015 we reported that the Court of Appeal had increased the amount awarded from the estate of a deceased mother in favour of her disinherited estranged daughter. The Supreme Court has now reversed that decision, reverting to the original County Court award. Mrs Ilott was originally successfully awarded …Read Full Post →
A business owner may have had the foresight to purchase Key Person Insurance, but this will not assist with the practicalities of running the business if that key person is ill or injured and unable to work or take decisions. For that reason, LPAs are frequently being used by prudent …Read Full Post →
Following the 6th Duke of Westminster’s death last month, there was a media outcry about the lack of inheritance tax (IHT) his estate will be paying. Without the use of trusts, exemptions and reliefs his £8.3 billion estate would have been subject to a £3 billion inheritance tax (IHT) bill. …Read Full Post →
Considering leaving the UK or emigrating? Below are four points your will need to consider: 1. Your UK estate If you have land or property in the UK you should have a Will which deals with that property. Ideally your UK Will should cover the entirety of your UK estate …Read Full Post →
Centre for Economics and Business Research, in conjunction with Legal & General, has recently published a report that states parents in 2016 will finance 25 per cent of all UK property purchases. Parental loans will therefore be the equivalent of a top ten mortgage lender. The so-called “Bank of Mum …Read Full Post →
What is BPR? BPR is a relief from inheritance tax (IHT). The primary purpose of BPR is to prevent the break up of businesses upon death due to the IHT charge which would ordinarily apply if the relief was not available. This allows family businesses to pass down through generations …Read Full Post →
Struggling for gift ideas? Can’t remember if your niece likes Frozen or Inside Out? Will your uncle use a Kindle? Do your grandchildren have the new Star Wars BB-8? To make life easier for you, here are some gifting ideas from us at Sherrards (and some associated tax advice): Don’t …Read Full Post →
Generation Z and, to some extent, the Millennials have grown up in a digital age. They take most of their news from online sources as well as store much more of their own information online. As more of our lives take place online, questions about death inevitably crop up. What …Read Full Post →