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 →
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.
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 →
The “nil-rate band” (the amount of your estate which is not subject to Inheritance Tax upon death) is due to remain as it is, at £325,000, for the next six years. However, the Government recently introduced the “additional nil-rate band” which is due to come in to force in 2017. …Read Full Post →
At present, an international Estate (one where assets are situated in more than one country) can be governed by several countries’ private international law rules. Estates are often dealt with in a piecemeal basis between jurisdictions where issues of domicile, residence and nationality overlap. This can be a costly and …Read Full Post →
Private client solicitor Raveet Phull explains the implications of a potential landmark ruling in the Court of Appeal that has seen a daughter (Heather Illot) rejected by her mother (Melita Jackson) win an inheritance dispute case. The Court of Appeal, in Ilott v Mitson & Ors , has overturned the …Read Full Post →