Digital assets and cryptoassets—Wills

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Digital assets on incapacity and death

As more and more aspects of our lives move online, digital assets are becoming an increasingly important class of assets and one that poses particular problems for personal representatives.

An individual can help to protect their digital estate by preparing a memorandum of digital assets with emails, usernames and passwords. This memorandum

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Latest Private Client News

MoJ publishes factsheet on applying for payment out of a fund following the death of a Court of Protection client

The Ministry of Justice has published a new factsheet (CFO 401) detailing the process of applying for payment out of a fund held by the Court Funds Office following the death of a Court of Protection client. The framework, which applies to England and Wales, outlines the specific form to be completed, the necessary supporting documentation, and the procedure for applying for payment of inheritance tax and funeral expenses.

Finance Bill 2025 update: Public Bill Committee to begin in January

The Public Bill Committee is expected to begin scrutiny of the Finance Bill on 28 January 2025. Comments on the Bill are invited before then, and revised explanatory notes have been issued to cover the Government’s proposed Pillar 2 amendments.

Private Client weekly highlights—19 December 2024

This week’s edition of Private Client highlights includes: (1) HMRC updates form IHT100f; (2) Knight v Barnsley, which held that the Court of Protection did have jurisdiction to determine a dispute over a claimant’s deputy’s release from reverse indemnity undertakings; (3) Manolete Partners Plc v White, in which the Court of Appeal held that occupation pension benefits are generally inalienable; (4) Hannah v Revenue and Customs Commissioners, where the First Tier Tribunal (Tax) permitted the amendment of grounds of appeal to include ground that the transfer of assets abroad regime is incompatible with EU law; (5) Hirachand v Hirachand, a decision of the Supreme Court which makes it clear that success fees cannot be included in awards for financial provision under the Inheritance (Provision for Family and Dependants) Act 1975; and (6) the Chancellor has confirmed that the Spring Forecast will take place on 26 March 2025.

Question of the week: Does the inheritance tax exemption for transfers between spouses apply where both spouses are non-UK domiciled and make a transfer of UK situs assets between them?

This Q&A considers the exemption from inheritance tax on a transfer between spouses who both have non-UK domicile status.

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