Divorce can be a complex and emotionally challenging process, particularly when it comes to dividing assets such as pensions. In the UK, pensions are treated as a form of matrimonial property and can be split between divorcing spouses.

The first step in dividing pensions during a divorce is to gather information about the value of the pensions. This will involve obtaining

Research* suggests that nearly one in five people are, or will be, financially worse off due to their divorce, and that many divorcees struggle to make ends meet after separating from their partner.

The statistics make for worrying reading. A third of divorced respondents said they were forced to take money from their savings to supplement their finances, 20% had to use

Keeping up to date with tax changes can be challenging and you may have missed this one in relation to the reporting of Inheritance Tax (IHT), especially as it’s not something most of us will deal with very often.

Excepted estates

The changes came in at the start of the year and apply to the estate of anyone who dies on or after 1 January 2022. Now, before you make a

A few weeks after my father died, I decided to have all my long hair cut off. I cried for hours afterwards, I was clearly in no place to make such a major decision, but thankfully hair grows back. Financial decisions on the other hand can be long lasting. Nobody wants to think of themselves as vulnerable but at some point in our lives unless we are extremely lucky life can

If you have set up a trust, have you written a letter of wishes?

As part of our ongoing review process, if a client has set up a trust, then we check if they have a letter of wishes in place and if it is up to date. There is a similar document for pensions usually known as an expression of wishes.

A letter of wishes is a way for the settlor of a trust to inform the

"I am working with a client who is looking to sell their home and move into rented retirement accommodation. They need their two residential nil rate bands (RNRBs) to reduce the value of their estate so that they do not have an inheritance tax (IHT) liability. So, they asked me if they can still get the RNRB if they sell their home?

In addition to the standard nil rate

As part of our regular catch-ups with clients, we check if they have a will in place and if it is still up to date. This is really important, if you don't have a will then your estate will be shared out in a standard way set out by law (Intestacy), which might not be what you would have wanted.

Writing a will is especially important if:

• You have dependent children -

We recommend all our clients put in place a Lasting Power of Attorney, you can read the reasons why on our previous blog post here

For every LPA there will be at least two Attorneys tasked with the job of administering to the affairs of the Donor. Often it will be your children, or you may be in the role for your own parents.

Our team here have regular training on how to