Martin House Make a Will during the month of March 2025

Leave your legacy to help us continue ours     If, like many other people you have been putting off writing your Will, this is your chance to put that right. Ware & Kay Solicitors has teamed up with Martin House to give you the opportunity to have your basic Will written for free. Legacies are vitally important to Martin House. In fact, they make up more than a quarter of our entire voluntary income, meaning the cost of caring for one in four of our children is covered by gifts left in Wills. Over half of UK adults have not made a Will. It's not always easy to think about what might happen when we die. But making a Will is an important step to ensuring the people and things you care about are taken care of after you're gone…

Debbie Gilpin, Deputy Head of Wills & Probate urges families to act now and plan ahead for upcoming changes to inheritance tax

Families in Yorkshire are being urged to take action to safeguard their financial future ahead of upcoming changes to inheritance tax (IHT) rules.  The latest budget announced a freeze on the IHT nil rate band and residence nil rate band thresholds until 2030, meaning more families are likely to be impacted as property values continue to rise. Changes to tax relief on certain assets and adjustments to pension rules will see more estates facing unexpected tax liabilities. Debbie Gilpin, Deputy Head of Wills & Probate at Ware & Kay in York warns that failing to plan ahead could result in significant financial losses for loved ones, with many unaware of the options available when it comes to planning to mitigate IHT. New research from The Association of Lifetime Lawyers, a membership body of expert…

Bethany Worthy, Associate in Wills & Probate at Malton urges families to act now and plan ahead for upcoming changes to inheritance tax

Families are being urged to take action to safeguard their financial future ahead of upcoming changes to inheritance tax (IHT) rules. The latest budget announced a freeze on the IHT nil rate band and residence nil rate band thresholds until 2030, meaning more families are likely to be impacted as property values continue to rise. Changes to tax relief on certain assets and adjustments to pension rules will see more estates facing unexpected tax liabilities. Bethany Worthy, Associate in Wills & Probate at Ware & Kay incorporating Pearsons & Ward  in Malton warns that failing to plan ahead could result in significant financial losses for loved ones, with many unaware of the options available when it comes to planning to mitigate IHT. New research from The Association of Lifetime Lawyers, a membership body of…

Laura Schofield, Head of Wills & Probate at Wetherby urges families to act now and plan ahead for upcoming changes to inheritance tax

Families in Yorkshire are being urged to take action to safeguard their financial future ahead of upcoming changes to inheritance tax (IHT) rules.  The latest budget announced a freeze on the IHT nil rate band and residence nil rate band thresholds until 2030, meaning more families are likely to be impacted as property values continue to rise. Changes to tax relief on certain assets and adjustments to pension rules will see more estates facing unexpected tax liabilities. Laura Schofield, Head of Wills & Probate at Ware & Kay in Wetherby warns that failing to plan ahead could result in significant financial losses for loved ones, with many unaware of the options available when it comes to planning to mitigate IHT. New research from The Association of Lifetime Lawyers, a membership body of expert lawyers from…

Ware & Kay urges families to start the New Year with a legal health check

The New Year is often seen as a time for fresh starts and resolutions, but it’s also a good opportunity to ensure your legal affairs are in order. Vicki Duffy from Ware & Kay Solicitors in York is encouraging local families to begin 2025 with a legal health check. A legal health check can provide peace of mind, ensuring your plans align with your current circumstances and any recent life changes. Vicki Duffy, a member of The Association of Lifetime Lawyers, explains that taking early action can safeguard your future, clarify your wishes, and offer security for you and your loved ones.” “Life doesn’t stand still, and neither should your legal documents,” says Vicki. “The start of the new year is the perfect time to review key legal documents to ensure they accurately reflect your…

Anticipating Tax Reforms: What Farmers and Family Businesses Need to Know

As the seasons change and we settle into winter, the aftermath of the Autumn Statement delivered on 30 October is still fresh in the minds of rural family businesses. While the chancellor set out broad financial plans, the finer details—particularly those concerning tax changes—are expected to be rolled out in Summer 2025. For farmers and rural enterprises, this delay only prolongs the uncertainty surrounding potential reforms to capital taxes, such as inheritance tax and capital gains tax. These taxes hold significant importance for farming families, where reliefs for agricultural property (farmland and buildings) and business property (the trading aspects of a farm) are vital for preserving generational ownership and business continuity. Over the years, discussions around reforming these reliefs have been a recurring theme, typically aimed at increasing government revenue. While no immediate changes have…

How will the farm be dealt with after your death?

Handing over the farm you worked so hard on for so long to a new generation may seem like a heart-wrenching decision – which may explain why a University of Exeter study reveals that only 20% of farmers in the UK plan to fully retire. However, even if you intend to keep working until you die, it’s important to put measures in place to ensure your farming business can continue to thrive and your loved ones don’t face a crippling tax bill after your death, as Emma Elwess, Director & Head of Wills & Probate at Ware & Kay incorporating Pearsons & Ward Solicitors in Malton, explains. What happens to your farm after you pass away largely depends on how it’s held. If the freehold is in your sole name or jointly held as tenants…

Local families urged to plan ahead to reduce their inheritance tax bill

Emma Elwess, Director, Wills & Probate at Ware & Kay incorporating Pearsons & Ward Solicitors in Malton is encouraging people to plan ahead to help reduce their inheritance tax bill. Latest figures from HMRC show that inheritance tax (IHT) receipts were £7.5 billion in the 2023/2024 tax year, up from £7.09 billion in the previous year. By taking advantage of available tax reliefs and planning carefully, individuals and families can make sure their loved ones pay the smallest tax bill possible and get the most out of what they inherit. The Association of Lifetime Lawyers represents a community of the most qualified legal professionals in the UK supporting vulnerable and older people with expert advice and support.   Emma, a member of The Association of Lifetime Lawyers says there are precautionary steps to take if you…

Inheritance Assets and Considering a Deed of Variation

Have you recently inherited assets from a family member or a friend who has recently passed away?  We appreciate that there are circumstances where you might not necessarily wish to receive your inheritance and may wish to redirect it elsewhere.  Some of the common reasons why are as follows: Honouring Updated Wishes: You know/suspect that the deceased’s wishes had changed since they made their Will some years prior and you wish to honour what you believe to be their final wishes. A Deed of Variation is an ideal way to do this. Supporting Others: You would like to help other family members/friends/charitable organisations by passing on wealth to them.  Inheritance Tax Concerns You expect that Inheritance Tax will be payable on your death due to the size of your…

Local families urged to plan ahead to reduce their inheritance tax bill  

Sian Foster, Director, Wills & Probate at Ware & Kay incorporating Pearsons & Ward Solicitors in York is encouraging people to plan ahead to help reduce their inheritance tax bill.  Latest figures from HMRC show that inheritance tax (IHT) receipts were £7.5 billion in the 2023/2024 tax year, up from £7.09 billion in the previous year. By taking advantage of available tax reliefs and planning carefully, individuals and families can make sure their loved ones pay the smallest tax bill possible and get the most out of what they inherit. The Association of Lifetime Lawyers represents a community of the most qualified legal professionals in the UK supporting vulnerable and older people with expert advice and support.   Sian, a member of The Association of Lifetime Lawyers says there are precautionary steps to take if you…