Tax Warning over Children's Wills

Parents may need to think about protecting their children by rewriting their Wills due to inheritance law changes introduced in the Finance Bill.

Concerns have been raised over an unintended consequence of a change in the law that means a person needs the courts consent before distributing trust assets.

Law Society president Lucy Scott-Moncrieff said: 'I'm sure the government doesn't intend to penalise orphaned children or to require a significant number of parents to redraft their Wills to protect their children's futures.'... However it does seem clarification is required.

As a consequence individuals who want their children to benefit in a tax efficient manner will potentially have to rewrite their Will.

Our specialised Will writing solicitors here in Bolton can help you with writing your Will, amending it or answering any questions you may have.

As well as supporting our Bolton clients we also provide a nationwide service and can be contacted on 0845 603 0708. 

Bolton Will Writing Solicitors