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 …
For many years, Long Term Care & Capacity have been pressing issues for families with frail and elderly parents. Despite abundant information, many families remain unprepared, struggling to navigate the costs and strict regulations when care is needed. Why is this the case? The Reality Most people prefer not to think about their parents requiring …
What traces its history through Ancient Rome and the Crusades, can have many de facto owners, none at the same time, and can hold entire groups of companies, money or property while owning nothing? The answer is a trust. Trusts play a vital role in private wealth planning like pensions, business structures, local government — …
The Potential Consequences of Generosity We are often approached by clients who have received advice that they should consider gifting their house to their children as a means of avoiding this being sold to meet ongoing care costs in the future, or to minimise their Inheritance Tax liability on their death. However, the reality of …
Inheritance Tax (“IHT”) has been a devise subject for a long time. Now interest rate chaos has added to the burden many face when trying to settle IHT on a deceased’s estate. A combination of previous house price increases, soaring inflation and tax-free threshold of £325,000 which has been frozen since 2009 has resulted in …
If you are not sure what to do with inheritance, we have outlined some options available to you in this article. There are two potential situations. The first is you think that when your Mum, Dad or other relative dies, you will inherit. The second situation is that your Mum Dad or Auntie has died, …
Let’s talk about the increasing demand and cost of care. As we are living longer and therefore often longer in poorer health, more & more people will require care. In the year to March 2022 the number of people living in care homes was 360,792, up from 291,000 in 2011. One in seven are expected …
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, …
We all like a bargain, don’t we? It is quite common to see Wills being advertised “on the cheap”, at the price of an average meal down the pub. However, Will writing companies have spent money to advertise at the top of internet platforms like Google in order to sell you a Will on the …
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, …
