Mortgage affordability in quarter four (Q4) of 2016 for both first time buyers and home movers was lower in Scotland than the rest of the UK, according to new research by Bank of Scotland.
Macnairs + Wilson Solicitors Blog & News
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Recent research from the United States has found that only 42% of adults have estate planning documents such as a will or living trust in place. The percentage is even lower among those with children under age 18 (36%).
It is important for families to plan. Having sound legal preparations in place well in advance helps to bring families together. Families are really important, not only do they play important roles in communities but also within society in general. Good cohesion and security within families in turn helps to promote good cohesion and security within society.
Late last year, the law on succession was updated for the first time in 50 years by the Succession (Scotland) Act 2016, marking the first stage in a phrased approach aimed at gradually modernising this complex, and often controversial, area of law. These new rules, which apply to deaths on or after the 1st November 2016, make important changes that are likely to affect many of our clients. Here we provide a brief overview of what has changed. If you would like more information about how these reforms may impact you and your family, and whether any arrangements you have made need to be updated or clarified, please contact our expert family law and private client solicitors.
Two recent studies have given an interesting insight into how prepared families are when it comes to transferring and inheriting wealth.