Life time planning
We all know that planning for our future is important but sometimes the business of our daily lives means that we put off important things until it is too late. No-one knows what tomorrow may bring but with a little planning you can ensure that you have peace of mind today.
We are able to advise you on a wide range of issues including:
Inheritance Tax planning
When an estate is passed on in the event of a death it is subject to Inheritance Tax. The current rate for the 2008 tax year allows that the first £312,000 is free of tax and then the rate is 40 percent. That is unless you make your Will more tax efficient. There are many options, depending on your circumstances, which could minimize the tax payable on your estate by your beneficiaries. We can advise you on your best options.
Power of Attorney
See subject section
Long term care planning
Although it is hard to imagine not being able to look after yourself and live in your own home, planning for this eventuality is incredibly important. With the correct planning you may not have to sell your home to pay for continued care. We can advise you on the rules about paying for permanent home residence.
Living Wills
A Living Will is a list of your wishes designed to communicate your preferences should you become mentally incapable. It lays out which medical treatments you would want and which you would not in the case of illness. Living Wills can include your day to day wishes such as how you want to be dressed as well as the more serious medical concerns.
Trusts
A trust is a fund controlled by you and/or a third party for the benefit of a specific person or class of person. There are many different types of trust and the legal rules and regulations are extremely complex. We can advise you on whether a trust is suitable and if it is explain it fully to you so that you are sure it is managed exactly according to your wishes.
Guardians
If you have young children then legal guardians should be appointed to take care of them in case you die before they are old enough to look after themselves. Legal guardians are named when you make your Will. |
