The High Court has provided some useful guidelines on what is required for a person’s statements to be legally classed as ‘deathbed gifts’ in inheritance cases. The court was asked to determine the proper distribution of the estate of a married couple. The wife died in January 2019 of cancer and the husband died of
The average stay in a care home is approximately 2 1/2 years [*LaingBuisson, Care of older people: UK market report, May 2017, p. xxiii] and the costs are typically £82,000 over that period of time. Planning for the potential care fees can ensure that your family and loved ones receive some inheritance when you die.
Should you require full-time residential care you will be expected to pay for your own fees where your capital exceeds £23,250. Whilst there is no safe way of avoiding paying care fees, there are measures that can be put in place to protect your estate. Planning for care fees may involve reviewing and amending your and your partner’s Wills to establish trusts which will provide some asset protection.
We can review how your estate is structured, consider how your home is owned and ensure that you are aware of any future liability. We can then take steps to protect your home and other assets.
We can provide practical and proactive advice to ensure your family wealth is protected.
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Presentation slides from the webinar ‘Executors and Trustees – do you know what you are doing?’ which took place on Wednesday 7th April 2021
A Lasting Power of Attorney (LPA) is a legal document that lets you choose trusted people to act on your behalf and make decisions for you, if you are unable to do so yourself, due to mental or physical incapacity.
A Lasting Power of Attorney (LPA) is a document under which you can give authority to someone to make decisions on your behalf even after you have lost mental capacity. Read this helpful guide to understand the different types of LPAs.
There are a number of things to be done following the death of a relative or friend and many of them are straight-forward administrative tasks but they are all important.