Blog

Perth & Kinross, renowned for its picturesque landscapes and historical charm, has long been an attractive destination for those seeking a second home and according to the most recent figures, the Perth & Kinross region has 1160 second homes. However, the tranquil idyll will soon face a significant change as Perth & Kinross Council has recently approved plans to increase the council tax on second homes by a staggering 100%. This move, set to be introduced in April of this year, raises important questions for property owners and potential buyers alike.

Life is complicated with many people now having to consider second marriages, estranged children, potential future care costs, and vulnerable beneficiaries when it comes to planning their Will. For couples who own a property together, instead of leaving their share of the property to the surviving partner outright, a common theme today is to leave their respective shares of their property on death to a Liferent Trust for the surviving partner created under their Will. This means the surviving partner can continue living in the house for as long as they wish without actually owning it.

As the year draws to a close, we want to take a moment to extend our thanks to our clients and friends for your trust and support throughout 2023. Your confidence in Macnabs has been the cornerstone of our success, and we are truly thankful for the privilege of working with you. We would like to remind you of our opening hours throughout the festive period:

A business born at home needs to have more protection in place than many others, as the very nature of a family business relies on the strength of the family. In the sad eventuality of a marriage failing, there are often hard feelings which can then impact on the running of a business. The value of a family-owned business is likely to be taken into consideration when negotiating a divorce settlement, therefore if both parties own equal shares, no matter who has done “more of the legwork”, then the value and income generated would be considered matrimonial property to be divided fairly between the parties.