Challenging times for wills

For many would-be inheritors, matters of inheritance matter!  Will Aid’s 2012 survey revealed that:

• 60% of 18-24 year olds would use an inheritance to buy a home;
• 48% of 35-44 year olds would repay their mortgage; and
• 40% of 45-54 year olds would use an inheritance to provide a pension.

The reliance upon inheritances is borne out by anecdotal evidence from some of my financial adviser friends.  Adult children are factoring in their expected inheritance when assessing their future financial security and making plans.  These days, some children cannot afford not to inherit. 

UK trustees: do you speak FATCA?

Do you know any UK resident trustees?  If so, do they realise that they need to be getting up to speed with FATCA (the Foreign Account Tax Compliance Act), even if the trust has no US citizen settlors, beneficiaries or US situated assets?!