The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Surrey-based tax specialist Nicholas Acomb has helped launch a Scottish Amicable insurance policy designed to help parents pass on assets to children while providing for the growing need for expensive nursing home care.
Acomb, partner with Guildford and Farnham-based firm Stevens & Bolton, says people are increasingly hesitant to transfer assets to children because of fears over possible long-term nursing costs.
"It is important that solicitors know there is a product on the market dealing with nursing home care where it is a problem, when people are trying to give away assets in a tax efficient way," says Acomb.
"It is important then that they also get independent financial advice."
The policy uses a split benefit trust to create a tax-efficient way of providing for nursing home care and reducing inheritance tax bills on a person's estate. "It gets around the 'gifts with reservation of benefits' problem which occurs with inheritance tax legislation," says Acomb.
"A need was identified [by Scottish Amicable] to remove parents and children's worry of planning for future care and also reducing the impact of inheritance tax on death. We provided the legal input for a product that would satisfy this need."