Our Full Range of Estate Planning Services

 

As many as one in six people over 85 end up in a care home of some sort. This often means that the value of any property or other assets they might own will be at risk of being used to pay care home fees.

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With annualised care home fees now around the £33,000 per annum mark, this is an area that's worth thinking about.

 

We find that many people who have been appointed to act as an executor for the first time have little idea what exactly they are meant to do and how to go about the whole process.

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This is particularly so if they are not used to dealing with financial matters like bank accounts, investments, shares, property assets and insurance policies.

 

If you have digital assets - maybe Bitcoin or another cryptocurrency - or any other asset that exists online, there are mechanisms for passing those assets on without the need to turn them into cash first.

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Such assets can also be held outside of an estate using a Digital Trustee making them not subject to probate.

 

A Deed of Revocation is a legal instrument used to formally cancel or revoke an existing trust, power, or prior arrangement, where the governing documents permit such action.

 

It is typically used to unwind structures that are no longer appropriate or required as part of wider estate planning.

 

NHS Continuing Healthcare (CHC) and NHS-funded Nursing Care (FNC) can cover some or all of the cost of long-term care for people whose primary need is a health need rather than a social care need.

 

Understanding the assessment process and obtaining the right advice can make a significant difference.

 

If you die without a will, the law says who gets what – what you would have wanted is irrelevant in this process. That’s why it’s so important to make sure you have a valid will in place.

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Your will lets you decide what happens to your money, property and possessions after your death.

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An advance decision (often known as an advance decision to refuse treatment, an ADRT, or a living will) is a decision you can make now to refuse a specific type of treatment at some time in the future.

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It lets your family, carers and health professionals know your wishes about refusing treatment if you're unable to make or communicate those decisions yourself.

 

The severing of a Joint Tenancy and replacement with a Common Tenancy is a tried and tested first step in many Long Term Care and IHT plans.

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For most couples, this enables half the value of a property to go into trust on the first death, thus escaping Inheritance Tax on the second death.

 

If your home is already paid for (or even if the mortgage left remaining is low), you may be able to release equity, either to provide money to use now or to make plans for your beneficiaries.

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There is no risk to your home in doing this.

 

When an old person dies, the family or executor is often presented with an old box stuffed full of statements, share certificates and insurance policies - for someone not used to dealing with such things, valuation can be a daunting task.

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We can provide a full valuation service either after or (preferably) before death. 

 

Lasting Power of Attorney is a legal document which allows people you have selected to manage your financial and personal affairs on your behalf if a situation arises that leaves you unable to do so yourself. The law calls these selected people “attorneys.”

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Every one of us may reach a point in life when having a trusted attorney is vital.​

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For estates valued at over £325,000 Inheritance Tax of 40% will usually apply on the death of a settlor. 

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Careful forward planning can reduce or even eliminate this tax.

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Why pay so much when there's no need to?

 

A Deed of Variation is a legal instrument that allows the distribution of an estate to be rearranged after death, within prescribed time limits.

 

It is often used to redirect assets into trusts or alternative arrangements as part of structured estate planning.