Protecting your voice with a Lasting Power of Attorney, why Everyone Over 18 Should Consider Putting One in Place It’s a common misconception that Lasting Powers of Attorney (LPAs) are something to worry about only in later life. However, In reality, LPAs are just as important for younger adults — particularly in today’s world, where …
Why doing nothing about Inheritance Tax could cost your family everything Let’s talk about Britain’s most resented tax — the one that hits after you’ve passed on, but somehow still manages to cause arguments among the living. This year alone, HMRC is set to collect over £8 billion in Inheritance Tax (IHT). Yes, billion — …
A Lasting Power of Attorney (LPA) is a legal document which authorises a nominated person (or persons) to deal with your affairs if you are not able to. There are two types of LPA, one dealing with property and financial affairs and another for health and welfare. Often people fail to make an LPA because …
Ensuring the future security of our loved ones ranks high on the priority list for many individuals. While we cannot foresee what lies ahead, we can be realistic of what modern living involves and place proactive measures in place to guarantee the protection of our assets and the provision for our families in the unfortunate …
At Foresight Estate Planning – we are seeing lots more of our clients living a much longer life. The WHO (World Health Organisation) says life expectancy has increased by more than 6 years to 73.4 between 2000 and 2019, and while we all hope to live a long and prosperous life, the older we get, …
It is good to explore the strict set of rules applied to Lasting Powers of Attorneys and gifting as the majority of individuals acting as attorneys are assuming incorrectly what they can or cannot gift if a loved one lacks capacity. Lasting powers of attorney (LPAs) allow someone, a ‘donor’, to choose someone they trust, …
Most people understand the benefits of a lasting power of attorney and how they allow individuals to nominate someone to make decisions on their behalf if they become incapacitated in someway or do not have the ability to manage their finances. Less well known is the ability to put an LPA in place for a …
Prior to October 2007, many people who made powers of attorney would have made Enduring Powers of Attorney (EPAs). From October 2007 EPAs were replaced by Lasting Powers of Attorney so it is no longer possible to make a new EPA. However, many existing EPAs will still be valid and may still be used by …
Most people understand the benefits of a lasting power of attorney (LPA), which allows an individual to nominate someone to make decisions on their behalf, if they become incapacitated in some way. Less well known is the ability to put an LPA in place for a business, seems a sensible idea when the sudden illness …
While many people make arrangements for what should happen to their property and finances after they die, fewer people make arrangements for someone else to manage their finances for them during their lifetime, e.g. in the event that they lose mental capacity. According to the Office of the Public Guardian (OPG), although an estimated 40% …
