It's A Family Affair
It sounds obvious, but the most important thing about making a will or estate planning is thinking about what your loved ones need. Let’s leave Mr Tax Man to one side for a moment and consider what you...
View ArticleCare Fees and Nil Rate Band Discretionary Trusts, useful?
Who wouldn’t want to provide for their spouse while passing as many assets to their children when they die? With a nil rate band discretionary trust you can achieve just that. Inheritance tax nil rate...
View ArticleWhat’s all the fuss about digital asset protection?
In today’s ever expanding digital world you’d probably have to think long and hard to name someone that has absolutely no digital assets, and I’m pretty confident that many wouldn’t be able to. The...
View ArticleRisky Business
If you’ve never given any thought to what happens if you or your business partner were to die suddenly, you’ll be glad you decided to read this article.So the good news first…if you and your business...
View ArticleCare failings are shocking across the sector and successive governments and...
Although I’ve never worked as a carer, I spent many years in the care sector and let me tell you it’s an eye opener. Some of that time was spent in the private pay market, and more recently in funded...
View ArticleAre you an ostrich?
I don’t mean have you got fluffy feathers and a long neck, though if you have get in touch because you’re the first ostrich that can read and I want to be your agent! This time next year and all...
View ArticleAvoid Inheritance Tax and Probate on your life policy
Most will have heard the well coined phrase that there are two things certain in life, death and taxes. Sadly true! Also true for many of us is that we’re probably worth more dead than alive. How?...
View ArticleProposed changes in the law on Wills are simply ludicrous and will lead to...
Under present laws which date back to 1839, a Will needs to be written and signed by the person making the Will (the Testator) and must be signed by two witnesses in order for it to be valid.Enshrined...
View ArticleFurther changes to pension ages
More pension changes are afoot in the UK.Pension age versus retirement ageLet me just clarify one point first though; it is often quoted that the age of retirement is currently 60 (sic) for women and...
View ArticleCupid’s Arrow Could Save You A Few Quid
Well, that’s not strictly speaking true. I’m sure we’ve all spent a little more than we could afford under the spell of Cupid’s Arrow, especially when trying to impress on that first date. But ever...
View ArticleBut I Thought I Could Make That Decision...
That’s what many clients say to me when someone they love, or provide care for, loses the ability to make decisions in relation to their own finances or personal welfare. Of course, that loss of...
View ArticleLeaving your children out of the Will could be risky business
As tempting as it might be to act on those breakfast table threats to leave little Johnny out of your Will if he doesn’t clean his room, you may want to put a bit of thought in to how you might do that...
View ArticleProtect the ones you love with a Life Interest Trust in your Will
A life interest trust is established in order to provide a beneficiary the right to receive income, or a benefit (ie by living in the property), from the trust. The beneficiary is known as the ‘life...
View ArticleDon’t get your Chattels in a twist!
We’ve all seen the Only Fools and Horses episode where Del Boy finds the £6.2m vase in the garage. If only, this time next year we could be millionaires… Alas, the rest of us are unlikely to be quite...
View ArticleAre you walking eyes wide shut into the biggest financial mess of your life?
I don’t want to bore you with stats but around 85% of people still don’t have a Lasting Power of Attorney. Shocked? If you’re in that number you should be. Articles in the press are prompting people to...
View ArticleSo what happens to the children?
If you have children under the age of 18 you should consider a guardianship clause in your Will. Guardians are people you appoint to look after your minor children in the event of your death. If you’re...
View ArticleShort Marriages – More Clarity?
Most experienced family law practitioners know that White v White introduced the ‘sharing principle’ where as a general guide, an equal division of assets between husband and wife should be departed...
View ArticleShouldn’t the point be to get the right advice before making an LPA??
https://www.lawgazette.co.uk/law/i-would-never-sign-a-power-of-attorney-retired-judge/5062465.articleJudge Denzil Lush talks about devastating effects on family relationships arising from Lasting...
View ArticleAssets that commonly pass outside a Will & IHT benefits
Whereas generally a Will can dispose of property that the deceased owned at his death, a testator (the person making a Will) doesn’t need to dispose of all his property in this way. Care should be...
View ArticleWhy it’s important to make a Will AND an LPA at the same time
Most people aren’t surprised when they read that around 70% of the population don’t have a Will. Actually the figure is probably closer to 85% given that many think writing down their wishes and...
View ArticleExecutor to a Will? Don’t end up paying the inheritance tax bill!
Acting as an Executor of someone’s estate is admirable, but don’t think it comes without responsibilities, and I’m not just talking about the fact that you’re now responsible for obtaining probate and...
View ArticleWhy don’t we talk about #Inheritance tax?
Why do most Brits shy away from talking about a legacy? In fact I’d even go as far to say they avoid it because they find it all a little too morbid. I was in a taxi a few days ago, and would you...
View ArticleHow Many Children Have You Got? Nope, You’ve Got One More!
Often clients will tell me that they don’t need a Will because everything will just go to their spouse and their children. Leaving the spouse issue aside for a moment (and by the way, if you’re not...
View ArticleDIY approach sees inheritance tax payments increase despite new tax breaks...
Latest HMRC figures show an increase in inheritance tax receipts of nearly 19% this tax year, with estates paying an eye watering £2.4bn.Despite the new tax breaks families appear to have been hit...
View ArticleWhy are you trying to sell to me when you don’t know me?
I find the best way to win new clients is firstly to know as much as I can about them, and secondly for them to know as much as they need to about me. Sounds a little unbalanced? Well, the important...
View ArticleBe time selfish
Focus on your goals. Is what you’re doing important or are you just doing it for the person shouting the loudest?Create an ideal schedule, and test your actual time use against it daily.Just one hour a...
View ArticleDall’inferno
Dall’inferno, Trump chiama negli Usa per sapere com’è la situazione nel Paese dopo la sua morte. Parla per due minuti. Messo giù il ricevitore, Satana gli dice che per la chiamata gli deve tre milioni...
View ArticleIf you or your loved ones have an Enduring Power of Attorney you should read...
Enduring Powers of Attorney (EPAs) were documents used before October 2007 to give power to an attorney of your choosing to take care of your property and affairs. They can now no longer be made, and...
View ArticleHow much Inheritance Tax would you pay under a Corbyn government?
Few would argue against the fact that Jezza is winning the showmanship race to number 10, and Theresa May’s ever floundering performances, which are more likely to see her win the wooden spoon in...
View ArticleDamn good reasons to stagger your 25% tax-free pension lump sum
So we all know pensions can be a tax efficient vehicle for our money, and some will look forward to reaching 55 to trigger the option for withdrawing up to 25% of the pot, perhaps to invest in another...
View ArticleAn escape from Inheritance Tax nobody wants
Ever heard the phrase there’s nothing certain in life but death and taxes? Well, there is an exception where inheritance tax (IHT) is concerned, but the catch is you both have to die at the same...
View ArticleMake your last wishes fun, just don’t use your Will!
All too often people shy away from making their Will, either because they haven’t had the time to get around to it – not a great idea because time will always get around to you! Or because “it just...
View ArticleDo I need a UK and a foreign Will?
That’s a pretty complex question, so no surprise therefore that it comes with a complicated answer. In the words of the legendary Bamber Gascoigne, your starter for ten is that if you have assets...
View ArticleWill you talk about it this Christmas?
It seems to come around faster as each year passes, and I don’t know about you but I every year I find myself reminiscing about when the children were small, or when I was younger, and had hair!...
View ArticleLaw and spaghetti…..a lot in common
Often when advising clients on Wills, Trusts and Inheritance Tax planning, I will talk about how couples, married or not, own their homes. There are two ways in which people hold property. Either as...
View ArticleIf you don’t have an LPA…Not for the faint hearted
Firstly, let’s just be clear what a Lasting Power of Attorney (LPA) is. It’s a document that allows you to appoint someone to manage your affairs in the event that you lose mental capacity. If you’re...
View ArticleThat old person was young once, one day it will be you…
Having spent many years in the care sector, and in particular dementia care, I often wondered about the lives of all the incredible people I met. They were young once, and in any case both young and...
View ArticleWho looks after your pet when you die?
Anyone that has a pet knows it’s just like any other loved member of the family. I am often asked what happens to a pet when someone dies or becomes ill. And of course when I look at my little four...
View ArticleWho will look after your children if you die? It could be strangers…
When we think of orphaned children many of us tend to think about war torn or third world countries, and the images we’ve become so used to seeing on the news. In fact, I don’t think I’d be too far...
View ArticleDo I need a business Lasting Power of Attorney as well as a personal one?
Before I answer that it’s probably best to talk about what a Lasting Power of Attorney (LPA) is. It’s a document that allows you to appoint someone to make decisions for you if and when you lose mental...
View ArticleMaking a ‘Simple Will’ because it’s cheaper? Too good to be true I think….
Whenever I read the words ‘Simple Will’ in an advert I get nervous. Not because it’s typically an advert from a perceived competitor, they are not competitors at all. But because the advert is, in my...
View ArticleWaiting for changes to inheritance tax before you plan?
Whatever your media palate, social or otherwise, there’s been a fair bit in the various outlets recently on proposed changes to inheritance tax (IHT). Let’s get something clear to begin with, there are...
View ArticleCare home operator Sunrise to pay out £2m for ‘unfair residents’ fees
Now just to be clear I am neither condoning nor condemning the upfront fees Sunrise charged their residents, and just as I climb on to my soap box I wonder how many other care providers would have...
View ArticleWhen Harry met Meghan – No I haven’t done their Wills, or Will’s, maybe…
I’ll never admit to it in public but I’m a bit of a romcom fan. So, when Harry met Sally, sorry I mean Meghan, I just knew I’d be writing something about marriage, and tax. Now there’s an unusual...
View ArticleNow the banks cash in on wills: 1.5 million families face losing billions
When I read this story over the weekend I was neither shocked nor surprised. I was however, a little sad. I have been saying for many years that when you’re offered a Will for as little as £75, you...
View Article‘Son goes to court to force his dad out of £600k home’
As I read through the quotes in this story, particularly from the son, I could feel my facial expression going from shock to horror, and it reminded me of a quote from good old Lord Denning on family...
View ArticleThink you’re too young to make a Lasting Power of Attorney?
Often people tell me they are just far too young to make a Lasting Power of Attorney (LPA). And they always say it in such a reassuring way that I feel, well reassured frankly.I am always intrigued by...
View ArticleSupreme Court Ruling on Removing Life Support Confuses the Law
Given that the area law I practice can sometimes be a little, shall we say, sensitive, I always try to write with my tongue slightly in my cheek, and I usually steer away from citing statute or case...
View ArticleYou can’t just leave your money to whoever you please.
People often ask me if they can leave this person or that person out of their Will. The answer isn’t as simple as one might think.The starting point is that English law recognizes the freedom of...
View ArticleUse conditions in your Will wisely or risk them failing
Conditions in Wills can be pretty handy, if used correctly. For example, you might want to ensure someone looks after a vulnerable member of your family. Sounds very useful.There are a few ways in...
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