Private Client
STEP Journal Cohabitants' Rights July 2018
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STEP Journal July 2018
Jaclyn Russell and Magnus Mackay survey the landscape of succession law and cohabitants' rights in Scotland and discuss the potential for reform.
Cohabitant's rights in Scotland - a new perspective?
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As published within the STEP Journal
Magnus Mackay and Jaclyn Russell survey the landscape of succession law and cohabitant’s rights in Scotland and discuss the potential for reform
The succession rights of married and unmarried couples were brought into sharp focus last year when the Court of Appeal in England and Wales handed down its judgement in the case of Lancashire Teaching Hospitals NHS Foundation Trust & Others v Jacqueline Smith [2017] EWCA Civ 1916. With the Scottish Government considering significant reform of succession law, the present arrangements, proposals for change and the potential impact of the case are of significant interest to Scottish practitioners.
Property jargon that hits home …..
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We tend to accept that sales people can occasionally use jargon to promote their product or service, and estate agents may do just that to make their properties attractive to prospective buyers. While there are rules in place to prevent misleading customers, and many descriptions are genuine, it’s important for buyers to exercise a degree of caution to ensure the description used isn’t open to interpretation..
Generational Planning - How to keep wealth in the family
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According to the latest report on wealth in Scotland, today’s young people are more reliant on inheritances, rather than earnings, to determine their living standards and wealth. This may prompt parents and grandparents to consider making a financial gift during their lifetime, rather than after.
Business Property Relief - Bringing the future into the present
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Latest reports suggest that the city’s economy is gradually rebounding from the effects of the recent downturn in the oil and gas industry. This is evidenced in a study by The UK Power House which places Aberdeen as the best performing city economy in Scotland, with the fifth best rate of growth in the UK. At the beginning of the year Aberdeen was also voted as the best location to launch a start-up business in the whole of UK.
Why Should I Make a Will?
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Many people are reluctant to put in place a Will. Some feel they are too young and do not wish to consider making a Will until later in life or they become seriously ill. Others feel they have insufficient assets or are comfortable that their family will follow their instructions. Regardless of your age or how modest or straightforward you think your estate is, we recommend all our clients put Wills in place.
