Care Costs and paying for them – fact amongst the hyperbole
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It is very easy to be led astray by headlines such as: “Hated Dementia tax is back as Labour threatens your home, savings and inheritance.” The reality is more nuanced and interesting – various governments have flirted with reform which could have lessened the impact of paying for care for much of ‘Middle England’ who […]
Assessing Mental Capacity
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nat_B0m
Almost every aspect of life requires a decision to be made, whether subconsciously, or otherwise. Whether an individual has mental capacity is a key consideration for all legal advisors. To take instructions from a client, a practitioner must be satisfied that that individual has mental capacity, i.e. that they are able to make a decision. […]
DIY Wills and why they are a false economy
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“Why should I engage a lawyer to prepare a Will when I can get one from a stationer for £20, or instruct a Will Writer for half the price of a legal professional?” Here’s why… Case law has established that a Will written on a napkin, or an eggshell is valid if it meets the […]
Feeling left out? The Inheritance (Provision for Family and Dependants) Act 1975
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In England and Wales, you have the freedom to leave your property to whomever you choose upon your death. But what if your loved ones feel they’ve been left high and dry? The Inheritance Act 1975 (the Act) steps in to ensure fairness, allowing certain individuals to challenge a Will that doesn’t adequately provide for […]
I have a Will, so why do I need a Lasting Power of Attorney?
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It is important to consider the potential consequence of not having a Lasting Power of Attorney (LPA) in place. Many assume that their spouse or in the alternative that their adult children will automatically have the authority to make decisions on their behalf. However, this is not the case, and without an LPA, those close […]
Will Beneficiaries, Claimants and Disputes
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This article is NOT intended as information/ a guide as to how to bring nor and defend an action under the Inheritance Provision for Family & Dependants Act 1975 (‘IPFDA’75). What it is, however, is some thoughts on how to give instructions for the drafting of a Will by a professional, and indeed, the importance […]
Inheritance Tax Planning: Is Inheritance Tax in the near future likely to remain a threat to the goal of passing your estate on as intact as possible to your heirs?
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Francis Fukuyama in his 1992 book “The end of history…” postulated that Western liberal democracy as a statement for government, underpinned by capitalism, represented the final perfection of government and social economic systems. This is the afterglow of their seeming victory, when viewed against the collapse of the alternative Soviet bloc style of government and […]
Wills and Business Property Relief – Inheritance Tax danger for owner managers of SMEs
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Many owner managers of small to medium sized businesses are aware that on death, their shareholding or partnership interest or sole trader business’ value will qualify for the specialist Inheritance Tax treatment in the form of 100% Business Property relief, which reduced to zero the Inheritance Tax burden that would otherwise arise on any non-exempt […]
New Year’s Resolutions
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nat_B0m
As we come to the end of 2023, many take the opportunity to reflect on the past year and look at setting resolutions for the new year. A brief history lesson Setting resolutions in a new year dates back to Babylonian times (around 4000 years ago) where promises would be made to repay debts. Years […]
The importance of updating your Will
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nat_B0m
Your Will is one of the most important legal documents that you will create during your lifetime. However, it is a common oversight to not review and update your Will consistently, whether this be by an entirely new Will or a Codicil. It is important that you update your Will as certain changes occur in […]