Related insights: Private Wealth
Quizzers stumped for a cause as WBD runs night in support of charity partner Alive Activities
02 Apr 2024
More than 130 people were puzzling for glory and a good cause as international law firm Womble Bond Dickinson (WBD) hosted a trivia night at Gloucestershire Cricket Club with funds raised for a Bristol-based charity.
Organised by the firm's Private Wealth team, the quiz night raised funds for WBD's Bristol office charity partner Alive Activities, an organisation which is dedicated to improving quality of life for older people and their carers.
Organised by the firm's Private Wealth team, the quiz night raised funds for WBD's Bristol office charity partner Alive Activities, an organisation which is dedicated to improving quality of life for older people and their carers.
Spring Budget 2024: Hunt digs for victory
07 Mar 2024
Chancellor Jeremy Hunt yesterday delivered his Spring Budget to a lively House of Commons. With the polls predicting a Labour victory in the next election, Hunt mined every inch of available fiscal headroom in order to fund broad tax cuts for workers in a last ditch effort to win over voters. In doing so he also both used up theoretical headroom available via future tax changes which until very recently he had opposed, and sought to steal Labour's political territory in the process – by announcing the abolition of the tax regime for non-UK domiciled taxpayers from April 2025 (see our separate section of this briefing by clicking here).
As a result, he made some notable changes to personal taxes – these are our highlights in a purely domestic context:
As a result, he made some notable changes to personal taxes – these are our highlights in a purely domestic context:
Family foundations: generosity helps more than you might think…
27 Feb 2024
I have had the privilege of volunteering at a local charity in the North East and have seen first-hand the profound benefits of the practical and compassionate support it provides. My reward for simply giving-up some time was a feeling of well-being (and a reality check on my stress levels!). However, the rewards for those considering philanthropy can extend from emotional into financial and practical benefits too.
Frequently those with accumulated wealth have a desire to ‘give something back’ but aren’t particularly comfortable with Inheritance Tax (IHT) as a way of doing so. As part of their estate planning, philanthropic legacies could instead be used to direct funds to preferred charities on death.
Frequently those with accumulated wealth have a desire to ‘give something back’ but aren’t particularly comfortable with Inheritance Tax (IHT) as a way of doing so. As part of their estate planning, philanthropic legacies could instead be used to direct funds to preferred charities on death.
The inflation situation: why the headlines don't tell the whole story and what it could mean for investors
23 Feb 2024
Earlier this month, on Wednesday 14 February, if you weren't too distracted opening Valentine's Day cards and gifts, you might have turned on the morning news to hear the main story that "UK inflation stays at 4%". We have now had over two years of high inflation exceeding the Government's target of 2%. The Bank of England have hiked the base rate from 0.1% at the end of 2021 to 5.25% at present in an attempt to dampen the economy and curb inflation to the intended level, but inflation remains twice as high as it should be. The Bank of England's governor, Andrew Bailey, was careful to not put a more positive spin on things when commenting that the latest data "pretty much leaves us where we were" in terms of the fight against high inflation and the potential for reductions in interest rates.
Neil Long spotlighted in 2024 eprivateclient 50 Most Influential list
16 Jan 2024
A partner at international law firm Womble Bond Dickinson (WBD) has been named at the forefront of the private client sector in a leading trade publication's annual listing.
Neil Long, who heads up the firm's national Private Capital team, has been highlighted in the 2024 eprivateclient 50 Most Influential list, a ranking which aims to identify, promote, and recognise leading private client practitioners who provide legal, tax, and wealth planning services for UK and international clients.
Neil Long, who heads up the firm's national Private Capital team, has been highlighted in the 2024 eprivateclient 50 Most Influential list, a ranking which aims to identify, promote, and recognise leading private client practitioners who provide legal, tax, and wealth planning services for UK and international clients.
Benefit and Prejudice: varying a trust in England/Wales or Scotland
13 Dec 2023
It is a truth universally acknowledged (by trustees and trust lawyers, anyway) that a trust deed may not always do what they need it to. What, then, are trustees to do?
The 'rules' governing any individual trust are set out in the trust deed. However, trustees sometimes find that they want to do something – often for tax purposes – which the trust deed does not permit. In those circumstances they may wish to 'vary' the terms of the trust.
There are different ways in which this can be done, and these are different in England/Wales and Scotland.
The 'rules' governing any individual trust are set out in the trust deed. However, trustees sometimes find that they want to do something – often for tax purposes – which the trust deed does not permit. In those circumstances they may wish to 'vary' the terms of the trust.
There are different ways in which this can be done, and these are different in England/Wales and Scotland.
Maintaining your Will: a review checklist
13 Dec 2023
The satisfaction of completing tasks on our "to do" list never disappoints. Whether it's completing the Christmas shopping, scheduling an MOT, or booking a haircut—crossing off each task brings a sense of accomplishment. Has reviewing your Will has been on your list for some time, but you never seem to get it ticked off? Here are four compelling reasons to prioritise this task:
Your healthcare: who decides?
13 Dec 2023
When someone is not able to make their own decisions about their medical care, healthcare professionals will provide treatment that is in the patient's best interests. However, this may not necessarily be what the individual would want. In this article we look at the two main documents – Advance Decisions and Lasting Powers of Attorney – that individuals can put in place to ensure that their wishes are followed.
Raft of nominations for Womble Bond Dickinson at The Legal 500 Northern Powerhouse Awards
30 Nov 2023
International law firm Womble Bond Dickinson (WBD) has been shortlisted for five awards at The Legal 500 Northern Powerhouse Awards. WBD is nominated for two Firm of the Year awards including ESG and Diversity and Inclusion and three of the firm's lawyers have also been shortlisted as leaders in their field.
Trusts and the Human Rights Act 1998: the rights of children
23 Nov 2023
Picture the terms of a discretionary trust deed. You won't have to dig too far to find an example which includes, in the list of discretionary beneficiaries, the settlor's children, grandchildren and their spouses.
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