Here are some examples of How we Help                            People

Transferring State Pension Rights From a Deceased Person to Their Spouse

If your spouse dies with greater State Pension entitlement than yourself, you can apply to inherit some or all of their entitlement up to your maximum allowable State Pension at State Retirement Age.

You may also be entitled to certain bereavement benefits when a spouse dies depending upon your circumstances.

Use a Will to Provide for your Children from a Previous Relationship if you have a New Spouse/Partner 

If you leave your estate to a new spouse/partner, they are under no obligation to provide for your children from a previous relationship after your death.  This is even more pertinent if your children are no longer financially dependent upon you as it is more difficult to prove a legal right to entitlement.

However, you can build protection into your Will whereby your new spouse/partner can be provided for during their lifetime with your share of your house and income from liquid assets.  Upon their death, your estate can then legally revert to your children from a previous relationship if you so wish.

      Can I Arrange a Will if I'm Incapacitated or Registered Blind?

Yes you can.  Someone can sign your Will on your behalf provided you are present and agree that they may sign your Will.

Business Partners and Shareholding Directors Becoming a Partner or Shareholder with an Unwilling Widow/Widower

Without adequate preparation within a business partner or shareholder's Will, their beneficiaries effectively inherit the deceased's business interests and all the rights those interests attract.  Their

requirements may not fit in with the prevailing business culture, causing

potential clashes.

 

The beneficiaries may wish to sell the inherited business interests.  If there

is inadequate legal and financial provision for this then the business may be

in danger of enforced closure or the imposition of undesirable

partners/shareholders.

    With some planning, all of the above risks can be managed.

Obtaining a Power of Attorney once a Loved One is Mentally/Physically Incapacitated on a Permanent Basis

Once a person becomes mentally incapacitated, it is no longer possible to obtain a Power of Attorney for them.  It also becomes expensive as their representative must apply to the Court of Protection on their behalf.

This means that it becomes expensive and limiting when any decisions need

to be made on that person's behalf.  Likewise if they are no longer able to arrange

their own Will.

A Lasting Power of Attorney for both financial affairs as well as Health & Welfare

decisions can be arranged whilst a person has full mental & physical capability

BUT IS ONLY TRIGGERED UPON MEDICAL CONFIRMATION THAT CAPABILITY NO LONGER EXISTS.

How do a married couple worth greater than the Inheritance Tax Allowance minimize any future Inheritance Tax Liability?

When the second spouse of a marriage dies they are able to use their own Inheritance Tax (IHT) allowance as well as their predeceased spouse's unused allowance.  

 

PLUS each spouse also has the new Residential Nil Rate Band allowance (currently £125,000 rising to £175,000 in tax year 2020/2021).  Provided there is a residential property being passed to a

direct descendant being natural, adopted, step or fostered children or

grandchildren.

Therefore, a married couple with children falling into the categories above

with a residential property will EACH have an Inheritance Tax allowance of

£325,000 and a Residential allowance of £175,000 by 2020/2021 amounting to a

combined £1,000,000.

Please note that for estates in excess of £2,000,000 the residential allowance rapidly diminishes.

These are simply a few examples of the many ways in which we help people.