IS A WILL REALLY NECESSARY?

MARRIED COUPLES - Without a Will, if you have children, your spouse may not inherit all your Estate. If you have no children, then some of your assets may go to members of your family other than your spouse.

UNMARRIED COUPLES - Unless you have made a Will, your partner will not get anything! Your entire Estate would pass to your children, or if you had none, be shared between your brothers, sisters, parents and other blood relatives.

DIVORCED - If you die without a Will, your ex-spouse may be entitled to claim all or part of your Estate in certain circumstances! Even if your ex-spouse cannot make a claim, your children's financial future may fall under your ex-spouse's control!

PARENTS OF YOUNG CHILDREN - Through a Will, you can appoint people you trust as Guardians for your children in the event of your death. this guarantees they are looked after the way you want.

PAYING FOR LONG-TERM CARE

The Government recently made a promise to pay some of the costs relating to long-term care. Yet, what exactly does this mean in real cash terms, and how will it affect me?

The Government has only agreed to pay certain costs relating to Nursing Care, whilst the individual is still liable for the Residential and Personal Care Costs. This means if you have assets over £19,000 you will have to pay for yourself (£20,000 - 35,000 per year). 25% of women need long-term care, and 16% of men.

Under the Community Care Act 1990, the local council have the right by law to seize the family home, put it up for sale and use the proceeds to support long-term care costs. Your home could be under real threat if your spouse needs this care. At least 70,000 homes were taken last year (200 per day).

HOW CAN WE AVOID THESE COSTS?

It is illegal to deliberately transfer your own property to relatives or trusts if your prime motive is to avoid paying long-term care costs. However, it is not illegal for your partner to make a provision in his/her Will, that upon death, their own half-share of the family assets, including the home, is placed in trust for their children or other beneficiaries, instead of passing direct to you. The difference is that you don't own your spouse's or partner's or joint owner's half share in your property, so you cannot be said to be reducing your Estate illegally.

INHERITANCE TAX PLANNING

You thought the Death Penalty had been abolished; well you are wrong! Inheritance tax at a rate of 40%, is now more likely to affect you than ever before. Rising property values mean many people fall into this category without realising it. Properties bought some years ago could have increased by more than 100%, so how much is your home worth? If you then add to this life insurance, any death in service benefit and of course any investments or business assets, how much will your estate be worth? Calculate it for yourself and see. This year take off the £285,000.00 threshold and what you are left with will be the value that inheritance tax is paid on, and that is a 40% tax.

Would you prefer the tax man or your family to benefit? Making an Inheritance Tax Will can save up to £114,000.00 in tax. It is easy to do and affordable.

Imagine you were hospitalised after an accident. A recent storm has damaged your roof and the rain keeps pouring in. Noone can authorise for the damage to be repaired. or even the hole to be temporarily covered, WITHOUT YOUR SAY SO. Nowadays the bank will often require a letter of authorisation for the transaction. Under money-laundering legislation, this will happen much more in the future - much more than we can imagine!

The Enduring Powers of Attorney Act (1985) allows you, while capable, to determine who can intervene in your property and financial affairs in the event of your incapacity.

FULL RANGE OF SERVICES

Last Will and Testament

Legal Document Storage

Family Discretionary Trusts

Family Probate Trusts

Conveyance

Executor Help

Enduring Power of Attorney

Advanced Directive

Disabled Discretionary Trust

Inheritance Tax Saving Will

Codicil

Children’s Trust

Change of Name by Deed Poll

I visit clients at a time to suit them, in the comfort and privacy of their own home. After all the options open have been fully explained and understood, I will take detailed instructions. The legal documents are then prepared by an experienced and fully qualified team. I then return them to you for supervised signing and completion. Each client receives the opportunity to review their documents every two years, to cater for changes in circumstances.