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Reasons for Making a Will

Reading an article the other day unexpectedly gave me some inspiration for this blog.  It got me thinking about the reasons for making a Will.  We all know the usual reasons: to leave your assets and items of sentimental value to your beneficiaries.  However, there can be many other reasons.

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Thinking about moving?

You could be forgiven for being confused as to the array of conflicting information coming out of the media, with headlines such as “House prices slip for third consecutive month” and “House prices gain 4.7%  in the year to May”. So which is correct? The short answer is both.

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Recent Amendments to ADS: The Land and Building Transaction Tax (Additional Amount - Second Homes Main Residence Relief) (Scotland) Order 2017

As announced by Revenue Scotland this week, the Land and Building Transaction Tax (Additional Amount – Second Homes Main Residence Relief) (Scotland) Order 2017 came into effect on 30 June 2017.  The new Order acts as an amendment to the existing Additional Dwelling Supplement (ADS) rules which concerns replacing main residences and the position regarding family units as detailed in Schedule 2A of the Land and Buildings Transaction Tax (Scotland) Act 2013. The amendment incorporates Paragraphs 8A and 9A in to the 2013 Act and will apply to all contracts entered into on or after 20 May 2017 and transactions completed on or after 30 June 2017.

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Dementia Awareness Week Scotland - Powers of Attorney

Given that we are in the midst of Dementia Awareness Week Scotland, which runs from 29th May until the 4th of June 2017, it seems a good time to discuss Powers of Attorney and to reflect on the benefits of having a valid Power of Attorney in place.

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Succession in Scotland following the Succession (Scotland) Act 2016

The Succession (Scotland) Act 2016, which came into full effect in November 2016, has introduced a number of important changes to Succession law in Scotland. The Act marks the first major change to this area of law since the Succession (Scotland) Act 1964.

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Landlord Register Upgraded

Registration for landlords in the private rented sector is compulsory and, although the register of landlords has been online since 2006, the system has now been upgraded. This upgrade should make it more straightforward for landlords to apply and to renew their registration, for anyone to search the public register of landlords and for local authorities to maintain the register in their area.

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Preparing for the loss of buy-to-let tax relief

Time is quickly running out for buy-to-let landlords currently claiming income tax relief on mortgage interest payments. From the 6th April 2017, residential landlords will face new restrictions for income tax relief for financing costs for residential properties. Until now, individuals buying property to let are able to claim relief on their mortgage interest payments at their marginal rate of tax. For example, individuals paying the basic rate of tax get 20% tax relief, whereas those within a higher tax bracket can claim up to 45%.

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Survivorship Clauses

A survivorship clause is something which you can put in your title deeds which provides that on the death of the first proprietor, the surviving proprietor, often  a spouse or a civil partner, will automatically inherit the predeceasing proprietor’s interest in the property.

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Improved Property Market Across Scotland

Registers of Scotland  latest statistics relating to the residential property market shows substantial increases in the  market which seems to reflect more signs of recovery.

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Solicitor can seek power to execute will on behalf of incapax Adult

A Sheriff Principal has recently ruled that courts can grant authorisation to a solicitor to execute a will on behalf of an adult with incapacity where there is sufficient evidence that the Adult had capacity when the testamentary writing was drafted.

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