Archive for 'Divorce / Marriage Breakdown'

Inheritance tax relief for emergency services workers

 

Rick Bunch

By Rick Bunch, Associate

In yesterday’s budget the Chancellor George Osborne announced that emergency services workers killed in the course of duty will be exempt from inheritance tax. As he put it, he would waive inheritance tax ‘for those who give their lives protecting us’. This exemption is already available for members of the armed services killed in the course of duty.

The levy, which currently has a threshold ...

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Do you know how much your partner earns?

 

Michelle Simpson

By Michelle Simpson, Associate

According to a recent report in the Sociology Journal couples where the female is the main breadwinner can be less likely to separate than households where the male is the main breadwinner.

However Josephine Farley from the Daily Telegraph takes a different view. Having been married for 23 years she doesn’t know how much her husband earns and he doesn’t know how much she brings home either as ...

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Who gets the dog?

 

Michelle Simpson

By Michelle Simpson, Associate

From reports of a woman using a bar sign in Swansea to say she was divorcing her husband but keeping the dog to Liam Gallagher considering legal action because he wasn’t allowed to see the dogs during his separation from Nicole Appleton, it’s clear that pets can get caught up in a separation or divorce.

The pet welfare charity, Dogs Trust, carried out a study which found that for ...

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Children’s charities express concern about shared parenting presumption

 

Michelle Simpson

By Michelle Simpson, Associate

A consortium of children’s charities, family law practitioners and academics led by Coram Children’s Legal Centre have raised concerns about the Children and Families Bill, fearing it could increase the risk to children having contact with a parent following separation.

A provision in the new Bill would have courts “presume, unless the contrary is shown, that involvement of that parent in the life of the child concerned will further ...

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Is divorce on the increase?

 

Michelle Simpson

By Michelle Simpson, Associate

The latest figures from the Office for National Statistics show that the number of divorces in England and Wales in 2012 was higher than the previous year.

Although the increase only amounted to 0.5%, this was still another 582 couples getting divorced.

The report looks at whether or not recent trends in divorce rates represent changes in the UK’s economic recovery. Do people wait for the value of their assets ...

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5 reasons to set up a trust

 

Rick Bunch

By Rick Bunch, Associate

A ‘trust’ is where one or more persons hold property on behalf of one or more persons. There are many different types of trusts, each with their own income and capital tax implications and practical benefits.

You may not have considered setting one up before but here are some of the benefits you could gain:

1. Mitigate income tax, capital gains tax and inheritance tax – trusts ...

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5 reasons to make a Declaration of Trust over property ownership

 

Rick Bunch

By Rick Bunch, Associate

If you own or contribute towards your property in unequal shares with someone, it’s sensible to set out your respective obligations and nature of ownership. A Declaration of Trust is a legally binding written agreement which records the financial arrangements between the joint owners.

The benefits of having a Declaration of Trust include:

1. It is executed as a formal Trust Deed which means that it’s a ...

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Why you should make a health and welfare LPA

 

Rick Bunch

By Rick Bunch, Associate

By putting in place a health and welfare lasting power of attorney (LPA) you can appoint those you love and trust to make decisions regarding your personal welfare. A health and welfare lasting power of attorney is a legal document which only becomes effective should you lose mental capacity.

A health and welfare LPA allows those appointed to make decisions about:

  • Medical, dental and optical care and ...
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    CSA replacement scheme now open to new applicants

     

    Michelle Simpson

    By Michelle Simpson, Associate

    The Department of Work & Pensions recently announced that the Child Maintenance Service was now open to all new claims. Previously access to the scheme had been limited to families with two or more children sharing the same parents.

    The government’s aim is to encourage parents to make their own arrangements for child maintenance on separation with the Child Maintenance Service acting as a backstop for parents who can’t ...

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    Divorce strikes lottery winners again

     

    Michelle Simpson

    By Michelle Simpson, Associate

    The media has recently reported the separation of two multi-million pound lottery winning couples within a week of each other.

    So what might happen in any future divorce? Who gets to keep what’s left of the winnings?

    Whilst there are some general principles that might apply the reality is that each case has to be decided on its own individual facts. English law draws a distinction ...

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