Over the last few years, residential property taxes have undergone significant changes with further reforms to come this year. Both individual homebuyers and property investors need to be aware of the potential impact of some of these changes. Here we provide an up-to-date overview of residential property taxes and what they could mean for you.
When a person dies it’s natural to feel grief, longing and perhaps confusion as you remember your time together and all the cherished memories. Quite often, though, loved ones are also left feeling overwhelmed from having to navigate all the practical, legal and administrative obligations that come with dealing with a person’s death.
Queen of Soul, Aretha Franklin, sadly passed away in August and did so without leaving a Will. This might come as a surprise to many given her superstar status and assets worth an estimated £62.3 million. Without a Will in place, local law is dictating how her estate is being divided, rather than this being her own choice. This is further complicated because one of her sons has special needs that require financial and medical support for the rest of his life. The process of administering her estate could take years to resolve because of this lack of clear division and potential claims to the inheritance, and will likely play out in public.
William Jennens died in 1798 with a vast personal fortune of well over £1million (worth around £200million today). He was an only child and a bachelor who lived alone, so his extended family were naturally intrigued to hear the reading of the will to see how they’d fared.