On Thursday 29 April our webinar series property owners post-COVID focused on residential development. Our panel comprised Alexander Dickinson, Partner, Womble Bond Dickinson as chair, Robert Drewett, Senior Counsel, Womble Bond Dickinson, Charlotte Pink, Principal, John Alison Land & Research, Nicholas Smail, Partner, Hazlewoods and Lucy Lockhart, Land and Planning Director for the Bristol Region, Taylor Wimpey UK Limited.

A common form of estate planning in the US is for an individual to create and fund a Revocable Trust (sometimes referred to as a Living Trust or a Living Will). However, structures of this nature can be problematic for anyone with connections to the UK.

After an eagerly awaited budget (with huge speculation on what it might contain) what did we learn about tax changes? Many thought tax rates would go up, but in fact the manifesto pledges for income tax, national insurance and VAT have been respected: those rates, plus capital gains tax and inheritance tax rates, are unchanged. (The only increased rate was for corporation tax.)

A Letter of Wishes is a tool that can be used by someone setting up a trust (the settlor), or making a Will.

WBD's private client partner Edward Stone, is working with STEP, the global professional association for practitioners who specialise in family inheritance and succession planning, to promote the beneficial role that trusts play in wealth planning across the world. Edward is also a member of the steering committee for STEP's International Client Global Special Interest Group.

There is (of course) speculation about what the Chancellor will announce in terms of tax changes as part of his Spring Budget scheduled for 3 March. Throughout the pandemic there has been speculation about how the Treasury will move to balance the books after massively increased government borrowing to fund the pandemic response.