15 08, 2017

Lasting Powers of Attorney abused.

You will have heard in the news that a retired senior judge has warned that the power of attorney system in England and Wales lacks adequate safeguards to protect people and their assets. This emphasises the need to ask a professional to arrange the Lasting Power of Attorney. Someone independent who can ask the difficult [...]

9 08, 2017

Don’t rely on a Deed of Variation

A Will is arguably the most important document you will ever make. Sitting down with your trusted advisor, talking through your options and finally executing the document can provide you with the peace of mind in knowing that if anything should happen, your wishes will be carried out. After signing their Will, the vast majority [...]

8 08, 2017

What is sideways disinheritance?

Recent news has indicated a huge increase in the amount of inheritance being passed on to younger generations. It is estimated that £1 trillion is set to be passed on through inheritance in the next decade. That’s all great but without fairly straightforward planning inheritances can be lost to sideways disinheritance, as in Linda Bellingham’s [...]

5 08, 2017

Are pension withdrawals such a good thing?

According to data from the HM Revenue & Customs, 200,000 individuals withdrew a combined total of £1.86 billion from their pension funds during the second quarter of 2017. In its recent Retirement Outcomes Review interim report, the FCA said taking pension money early has become the ‘new norm’ with nearly three-quarters of pots accessed by [...]

26 07, 2017

Probate fee increase is resurrected.

Probate fees, charged when a person is given authority to deal with someone’s estate after they die, could be increased to fund the courts service Ministers may proceed with controversial plans to increase probate fees by up to £20,000, experts warn today. Charity and legacy specialists say that they are concerned that the plans, dubbed [...]

26 07, 2017

Ways to Deal with Grief

Although everyone grieves in their own way, here’s a few ideas to help you to cope with a loss. Spend time with people who knew the deceased  Other people who knew the person who died will be grieving too, and can relate to how you are feeling. They can also talk with you about the [...]

10 07, 2017

Lifetime Trustees: What You May Need to Specify in Your Will if You Have a Child Under 18

When writing your last will and testament, if a beneficiary is under the age of 18, there’s a few steps you will have to go through to make sure you have covered everything you need to, to ensure the child gets what they are promised in the will. If the beneficiary is your child, it [...]

15 06, 2017

Why you need a Health and Welfare Lasting Power of Attorney (LPA).

If an assessed person lacks capacity, only an attorney or deputy appointed under a Lasting Power of Attorney Health and Welfare will be allowed by the NHS to challenge decisions through the NHS review procedure. If family, including spouses, who are not attorneys or deputies want to challenge the NHS decision, the NHS will in [...]

8 06, 2017

Tips for tax planning

Uncertainty is the name of the game so far during this tax year, with post Budget u-turns and a rushed pre-election Finance Act losing the majority of the government’s proposed tax changes. Those proposals include the: reduction of the dividend allowance from £5,000 to £2,000, making tax digital legislation, the introduction of deemed domicile for [...]

18 05, 2017

Old documents can be very valuable

The Personal Representatives (PRs) of a surviving spouse must claim the transferable NRBs. Transferable NRBs will not be given automatically. The claim must be made within 2 years of the death of the second to die. The claim is made by the form IHT402 which is sent to HMRC together with the IHT400. The following [...]

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