Category: Private Client
May 2018
Protecting your little ones - 5 reasons to get your Will done!
A Will is on everyone’s ‘to do’ list. But do you know what would happen to your children if the worst were to happen? Here are 5 reasons why you should put a Will in place in order to protect your little ones:
April 2018
Dealing with general conflict and estate planning
Yes, it is an awkward topic, but there are many modern families that do not see eye to eye. Whilst it is easier to let bygones be bygones in the land of the living, what should you do if you need to discuss your family affairs in the event of your death?
April 2018
Lasting Power of Attorney – what is it and when do you need it?
It’s National Love Your Children Day on Saturday 7th April, which is a good time to reflect on how important our family is to us. In many legal scenarios, we often consider our nearest and dearest when it comes to protecting ourselves – and our children’s future. Lasting Power of Attorney is something that is difficult to consider, but, when it comes to allowing someone you trust, like your children, to take over your family affairs, it is an extremely important document.
August 2017
Gifts of Property
Author: Tim Hughes
We are often approached by clients who say they are thinking of gifting their home, or other property, to their children or other family members to “save tax”.
August 2017
Residence Nil Rate Band
Author: Joanna Pashley
Did you know that from April 2017 an additional allowance for inheritance tax came into force which could save your estate up to a further £350,000 by April 2020? This has the potential to take a married couple’s total tax allowance to £1 million.
May 2017
STEP Launches New Website
To increase awareness of the role of the The Society for Trust and Estate Practitioners (STEP) and its members (TEPs), they have launched a new public facing website www.advisingfamilies.org. The website explains what a TEP is, what they do and what benefits you can expect from using a TEP. STEP members are from a range of professions, including accountancy, banking, financial advice, law, tax advice and trust administration.
April 2017
Can You Avoid Care Home Fees?
Author: Brian Fraser
A recent BBC article has highlighted the importance of seeking legal advice when taking steps to mitigate the costs of Nursing Home Care. It concerns Don Steer, who had been diagnosed with terminal cancer. Due to the value of his savings and owning his home outright with his wife, he did not qualify for council support in relation to costs of care. Concerned they may have to sell the house to pay for care home fees, Mr & Mrs Steer placed their house into trust. Mr Steer passed away before needing to pay care home fees, but should they have been required it is likely that the transfer of the house into trust would have been ineffective. This is because a significant factor in placing the house in trust was to reduce their estate for capital assessment. If the local authority determine this to be deliberate deprivation of assets, they can take action to recover charges.
November 2016
The Hidden Cost of DIY LPAs
Author: Liz Dalgetty
Private Client Solicitor, Liz Dalgetty, has joined a number of organisations representing older and vulnerable people to raise serious concerns around the Government’s online tool for creating Lasting Powers of Attorney (LPAs).
October 2016
Inheriting ISA's - The New Death Benefits
Author: Joanna Pashley
Did you know that it is now possible for you to inherit your partner’s ISA savings? Before 6 April 2015, when a person died the ISA(s) tax benefits died with them. The effect being that if a spouse inherited money that they wished to reinvest in their own name, they could only reinvest into another ISA, up to their own ISA allowance for that year.
August 2015
Ilott v Mitson - Estranged Daughter Wins Inheritance Battle
Author: Zara Munday
English law has historically provided that you should (with some exceptions) be able to leave your estate to whomever you wish. The exception lies in the ability for certain disappointed family members to make a claim under the Inheritance (Provision for Family Dependants) Act 1975 for ‘reasonable provision’. It is usually very difficult to prove that you have not been left a ‘reasonable provision’ by the deceased.
