B P Collins Solicitors: talk to the experts
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PRESS RELEASE
Anyone with assets in excess of £285,000 should review their wills as a matter of urgency, warns William Chalk of solicitors B P Collins.
"The measures announced in the Budget - which were totally unexpected - will affect many ordinary families because of the high price of property in the Thames Valley," said William.
Divorced parents will also need to take advice on their financial arrangements because of the severe restrictions imposed on Interest in Possession (IIP) and Accumulation and Maintenance Trusts (A & M). The changes will particularly affect children with court orders establishing trusts in their favour.
William added: "There was no period of consultation before these measures were announced and the Law Society has already urged the government to rethink the proposals before they are due to become law in July's Finance Act. In the meantime, families could face very large inheritance tax bills indeed."
ENDS
Media Enquiries:
Samantha Howe
Marketing Department
samantha.howe@bpcollins.co.uk
