Families in the South East 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.
Rebecca Louis and Matt Parr, both Partners at award winning, Mayo Wynne Baxter solicitors, 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 across the UK, reveals a sharp increase in concerns around IHT. A staggering 80% of their lawyers have reported a surge in IHT-related enquiries over the last six months alone, with interest spiking further (68%) following the latest budget.
More than three-quarters (77%) have observed a growing trend of clients exploring the option of gifting assets during their lifetime to reduce the IHT bill their loved ones might have to pay. Despite this rising demand, 66% of lawyers believe many people remain unaware of their options for IHT planning.
Matt Parr stresses the urgency of acting before it is too late: “The landscape of IHT is shifting rapidly, and we’re seeing many people left uncertain about how to protect their loved ones. We’ve seen an increase in interest in property gifting, as well as growing concerns about access to pensions funds that could jeopardise long-term financial security.”
“The complexity of these changes has caused confusion among families. Taking proactive steps now can help minimise the impact of IHT and ease financial and emotional stress for your family. Discussing finances and estate planning may feel challenging, but being open about it is key to ensuring loved ones are well cared for in the future.”
Rebecca Louis adds: “One big change is that from April 2027 most unused pension pots and lump sum death benefits will become part of a person’s estate for IHT purposes, potentially pushing many more people over the IHT threshold. Given the potential impact of this change, it’s a good time to review your will as part of your overall investment and gifting strategy to ensure your legal and financial arrangements are as tax-efficient as possible.”
Seeking professional advice from a specialist solicitor, such as an Accredited Lifetime Lawyer, can provide peace of mind and a clear strategy to navigate these complex changes with confidence.
Family Justice Council Guidance on Neurodiversity in the Family Justice System: A Welcome Step for Families and Practitioners
We understand that navigating the complexities of the family justice system can be overwhelming, especially navigating legal jargon, unclear deadlines and an abundance of paperwork. Whether you’re a parent, child, or involved in any family law matter, it’s essential that the justice system is fully equipped to cater to the diverse needs of all individuals. That’s why the recent Family Justice Council’s Guidance on Neurodiversity in the Family Justice System for Practitioners is a welcome step forward.
Why is this Guidance Important?
It is estimated that 1 in 7 people in the UK are neurodivergent. Whether you’re going through divorce, dealing with child arrangements, or any other family law matter, these conditions can significantly impact how individuals process information, communicate, and respond to the demands of the legal system.
Key Points from the Family Justice Council Guidance
The Family Justice Council’s guidance offers a number of practical recommendations to help practitioners support clients with neurodiversity. Here are some of the key takeaways:
Understanding Neurodiversity: The guidance emphasises the importance of recognising that neurodiversity is a different way of thinking and processing information. Practitioners are encouraged to adopt a more inclusive approach when working with clients, avoiding assumptions, and instead, tailoring their communication and procedures to meet the individual needs of each person.
Adapting Communication Methods: One of the most important aspects of the guidance is the recommendation to adjust communication methods. This could include providing written summaries of verbal instructions, using visual aids, or offering extra time for clients to process information. Such adjustments can make a significant difference in ensuring that neurodiverse clients feel heard and understood throughout the legal process.
Encouraging Participation: For many neurodivergent individuals, participating in legal proceedings can be daunting. The guidance advocates for supporting clients in ways that encourage full participation in the process, including using specialists or advocates if necessary, to ensure their voices are fully represented.
Recognising the Impact on Decision-Making: The guidance highlights the potential challenges neurodivergent individuals may face in terms of decision-making, particularly in high-pressure situations. By recognising these challenges, family law professionals can take extra care in helping clients make decisions that are in their best interests and in the best interests of their families.
Supporting Parents and Children: The guidance also underscores the importance of considering the needs of both parents and children who may have neurodiverse conditions.
How Mayo Wynne Baxter Solicitors Can Help
At Mayo Wynne Baxter, we are committed to providing a compassionate and understanding approach to family law matters. We recognise that every family is unique, and that includes understanding and respecting neurodiversity. Our experienced team of family law solicitors are well-versed in the complexities of neurodiversity in the legal system and can offer tailored advice and support to ensure that all individuals have access to fair legal representation.
If you or someone you know is navigating family law proceedings and is concerned about how neurodiversity may affect the process, we encourage you to get in touch with our team.