Asset Protection Trusts (APTs) are often used to manage and safeguard your assets, but it’s important to understand that they come with various tax implications that need careful consideration. Understanding these tax implications ensures that your trust has been set up correctly and operates in compliance with the law.

Asset Protection Trusts (APTs) are used for managing and protecting assets, which means it’s critical that it has been properly registered. Many APTs are legally required to register with HMRC both for reporting for tax purposes, and being entered on HMRC’s trust registration service (‘TRS’). This is essential to avoiding both legal and financial complications.

You may have heard of Asset Protection Trusts (APTs), sometimes known as Family Protection Trusts, in the news, or perhaps you or a loved one has a trust in place you started some years ago.

The closure of McClure Solicitors has left many former clients facing uncertainty and concern regarding their legal and financial arrangements. If you are a previous client of McClure Solicitors, it is crucial to take proactive steps to address any issues and secure your interests.

The collapse of McClure Solicitors has left many clients in a state of uncertainty and concern, particularly for those who had set up Family Protection Trusts. Former clients have found themselves left in the dark regarding their trusts and are now seeking advice about the best options available to them.

While Michael Jackson’s musical contributions continue to be celebrated, the management of his estate has been the subject of legal battles and family disputes. Recently, a new feud has unfolded, centring on Bigi Jackson, Michael's youngest son, and his claim against his grandmother, Katherine Jackson.

This International Women's Day, we're highlighting the journeys, challenges, and experiences of our female lawyers. Their stories show the importance of diversity, resilience, and empowerment in shaping an inclusive legal community. Claire Thompson, Solicitor in our Wills, Trusts,sTax and Probate team, shares her thoughts below.

The passing of a cultural icon such as Prince leaves the world wondering about his legacy. Many expected that Prince would be remembered for his songwriting and unique style. Few would have guessed that Prince’s legacy would be caught up in a protracted legal battle over his estate which, nearly eight years after he passed away, is still making headlines.

For unmarried or remarried couples in the United Kingdom, the significance of drafting a will cannot be overstated. While marriage is commonly associated with the creation of wills, unmarried and remarried couples must recognise the importance of this legal document in securing their assets, ensuring their wishes are met, and providing for their loved ones in the event of their passing.

After securing their dream home and setting up a cohabitation agreement, Buddy and Holly, the ever-forward-thinking elves, turned their attention to the future. They wanted to ensure that their hard-earned assets, now including their cherished home, were passed down efficiently when the time came.

It was extremely sad to hear that iconic music legend Shane MacGowan passed away recently. What possibly made it worse was that he died during the run up to Christmas, when Fairytale of New York gets its annual airing on radio stations and Christmas music selections. This brings into focus the intricacies of estate planning, especially in understanding how royalties pass under a Will.

With marriage rates dropping to the lowest levels on record, society is seeing more couples than ever residing together, sharing assets, building a life together, but not taking the traditional step of marrying or entering a civil partnership.

Writing a Will or Power of Attorney can sometimes be a daunting time and many families come along to an appointment to support a loved one, only to find themselves being left in a waiting room. There are lots of reasons why you might be asked to leave a meeting or stay in a waiting room whilst a relative is seen alone by their lawyer. Here are some of the common reasons your relative might need to be seen alone.

The ongoing saga of Aretha Franklin’s estate raises two keys points that any person who is creating a Will should keep in the forefront of their mind; How do I make sure my Will is valid? and How do I make sure my Will is found?

It is common for a Will to state that all or part of estate is left to ‘my children’ or ‘such of my children who survive me’ but has this phrasing become old-fashioned? Does ‘my children’ accurately reflect the individuals that you wish to inherit from your estate or is this an example of the law failing to appreciate the modern family?

The main purpose of a Will is so you can choose who should inherit from your estate. Dealing with the affairs of a loved one who has died can be an incredibly difficult time and therefore to make this job as easy and as stress free as possible for those left behind, the best thing you can do is to ensure you have a Will in place.

McClure Solicitors went into administration in April 2021 and many ex-clients are now concerned about the legal documents they prepared previously through McClures. We have been actively helping a number of ex-clients of McClure Solicitors where, upon the advice of McClures, “Family Protection Trusts” were put in place and these types of legal documents in particular may not have been in the best interests of those clients

Once you have put a Will in place, you’ll have completed a very important step in your life. So why and when should you review your Will? It’s generally a good idea to read through your Will every three or so years. However, there are some key circumstances where it’s vitally important to check that your wishes are up-to-date. This will ensure that your loved ones are still protected as you wish, and that they’re not left in a difficult position.

Welcoming a new generation into the family is a significant time. Whether you’re a Grandparent for the first time or not, the excitement can often be underwritten with thoughts about how best to gift something to your Grandchild to help them when you’ve gone.

“I’m a parent and have been told I should have a Will. But I don’t understand why it’s so important.” No one likes to think about it, but unfortunately, death is a fact of life. It’s going to happen to us all at some point. However, if you’re a parent and you don’t have a Will in place, then you’re at risk of leaving your family horribly exposed, particularly if you have a partner and are unmarried.