Articles & Downloads / Estate/Will

Janeen McKay

What can you do to protect your home when planning for the future?

08 November 2018

With the estimated annual cost of care home fees being £41,000 it is not surprising that many people are considering their own positions to try and protect their assets which they have worked their whole lives to build up. The most valuable asset usually being the family home. Northern Ireland residents with savings, investments and or property, to include the value of their home, with a value greater than £23,250 will not be eligible for financial assistance from their local Health and Social Care Trust and will be obliged to meet the full cost of their residential or nursing care. The main concerns for these individuals and their families is that they will have to sell their home to pay for their care and that their children's inheritance will be reduced. Read More

Huw Worthington

How wealthy do you have to be to pay inheritance tax?

21 November 2017

In order to pay Inheritance Tax on death your assets need to be at least £325,000 if you are single or £650,000 jointly if you are in a civil partnership or married. Should you reach the above criteria then your loved ones will have to pay 40 per cent death duties on assets above those levels. Happily the introduction of a new allowance – the Residence Nil Rate Band (RNRB) applies to residential property when it is left to direct descendants. It will result in an additional £100,000 of nil-rate band – the term for the tax free allowance – in 2017-18, rising to an additional £175,000 in 2020-21. Read More

Naomi Devlin (1)

Breaking up can be Heavy Duty

04 August 2016

Naomi Devlin, Solicitor, of Worthingtons Matrimonial department considers the implications on married couples or those in a civil partnership, of the government’s Stamp Duty Land Tax higher rates for purchases of additional residential properties, which came in to force in April 2016. Read More

Naomi Devlin

Inherited Assets and Divorce

21 April 2015

Naomi Devlin, an experienced Solicitor specialising in Family Law, discusses the impact that an inheritance might have on the division of matrimonial assets. Read More

Celia Worthington

The Imperfect Gift!

19 June 2013

Where properties are transferred at less than their market value the Official Receiver in bankruptcy can and will step in to recover property. Read More

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