Estate Planning Consultant

Hello, and thank you for showing an interest in my website. I provide a high quality and personal service. My approach is to outline to you, the benefits that you can gain from making a will appropriate to your individual circumstances. Many people because they are not informed, do not realise how they can save their family a lot of stress at a difficult time by making sure that their will has been written.

My approach is extremely flexible whether you require us to visit you at home or even at work.

You'll find all the peace of mind you would expect from a high street solicitor but at a lower cost.

WHAT IF I DIE WITHOUT A WILL?

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.

SEPARATED - 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 - An ex-spouse could be given full parental rights over his/her children even if your original separation document said otherwise. Through a Will, you can appoint people you trust as Guardians for your children in the event of your death.

PAYING FOR LONG-TERM CARE

As you are probably aware, the Government recently made a promise to pay some of the costs relating to long-term care following recommendations by the Royal Commission. Yet, what exactly does this mean in real cash terms, and how will it affect me?

In fact, the Government has only agreed to pay certain costs relating to Nursing Care for example, the time spent by a nurse with the patient etc., whilst the individual is still liable for the Residential and Personal Care Costs. This means if you have assets over £21,000 you will have to pay for yourself (£20,000 - 35,000 per year). Over the whole UK, nearly half a million people are living in residential care, and the cost of caring for the ever-growing army of pensioners is predicted to soar to nearly £30 billion by the year 2030. Women have a one in four chance of needing long-term care, and men a one in six chance.

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. 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.

THE PROTECTIVE PROPERTY TRUST WILL has been specially designed for this purpose, allowing the surviving partner to continue benefiting from the assets within the trust and allowing your property to be passed on to your loved ones in the fullness of time.

INHERITANCE TAX PLANNING

Surprising as it may seem, many people pay 40% tax on their family's future inheritance! The good news is that you don't have to! For example, if you own a modest home valued at say, £100,000; insurance policies valued modestly at say £50,000; death in service at work at 4 x £25,000 salary = £100,000; investments and building society deposits with an overall value of say £50,000 - your assets on death would exceed the current inheritance tax threshold of £300,000. Everything above this level is taxed at 40%. This means that with an Estate of £315,000, the taxman will claim a massive £6,000. Are you happy to lose this amount in tax when there are simple ways to avoid paying it?

The good news is that an INHERITANCE TAX WILL can save your family 40% tax on all their inheritance.

ENDURING POWERS OF ATTORNEY

Imagine your aged mother was not well, and she asked you to go to her bank, on her behalf, to withdraw a relatively small amount for her shopping requirements. Given this scenario, people just like you are constantly annoyed by banks refusing to allow such withdrawals. Nowadays the bank will often require a letter of authorisation from your mother for the transaction. Under money-laundering legislation, this will happen much more in the future - much more than we can imagine!

Now, consider how your adult son or daughter would get you to sign such a letter to the bank, authorising each financial transaction if you became physically or mentally incapable of managing your own affairs, or understanding what you were doing? How would your funds and assets be dealt with if you were completely unable to deal with things on a long-term basis?

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.

A Power of Attorney which is to continue in the event of incapacity may be used before capacity is lost, provided that you, the Granter, specify that the power is to continue.

IMPORTANT INFORMATION

It will not be possible to take out an Enduring Power of Attorney after 1st September 2007. Lasting Power of Attorney is being introduced as a replacement. These will be more complex and will be at a much higher cost. Consider taking out an Enduring Power of Attorney now, the cost is negligible compared with the costs involved in the new document. An Enduring Power of Attorney taken out before the change will be legally valid for life.

FULL RANGE OF SERVICES

Last Will and Testament

Legal Document Storage

Protective Property Trusts

Executor Help

Enduring Power of Attorney

Advanced Directive

Disabled Discretionary Trust

Inheritance Tax Saving Will

Codicil

Children’s Trust

Because we specialise only in Wills and associated Estate Planning we are able to offer many comprehensive options in all aspects of this complex area of the law. Consultants 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, detailed instructions are taken. The legal documents are then prepared by our experienced and fully qualified team and returned to the client by the Consultant for supervised signing and completion.