• Basic Wills from £150.00
    Basic Wills from £150.00
    Without a valid Last Will and Testament any assets you leave on death will be distributed according to the Rules of Intestacy. These rules lay down a rigid method of estate distribution and make no account of your wishes. Click the image to read more...
  • We realise that most people haven’t experienced probate before. Probate is the administration of a deceased’s Estate by the appointed “executors” in the Will, usually family members. At an already difficult and emotional time, the complexities of executing a Will and establishing any appropriate Trusts can be an arduous task. Click the image to the left to read more...
  • Inheritance Tax is simply a tax on money or possessions you leave behind when you pass on.It can also apply to some “gifts” you make during your lifetime. It is therefore vital that you receive professional Inheritance Tax Advice on your position to minimise the impact and tax paid should the worst happen, ensuring that your loved ones receive as much of your money as possible. Click the image to the left to read more...
  • Without a valid Last Will and Testament any assets you leave on death will be distributed according to the Rules of Intestacy. These rules lay down a rigid method of estate distribution and make no account of your wishes, unless you write a will. Click the image to the left to read more...
  • Lasting Powers of Attorney from £195
    Lasting Powers of Attorney from £195
    Often serious illness or accidents strike without warning. Last year, for example, approximately 130000 people suffered strokes. Without a Lasting Power of Attorney being available this is when it becomes difficult... Click the image to the left to read more...

1in4 face losing everything

A report released today by the Local Government Information Unit warns that 1 in 4 pensioners who fund their own care fees will end up losing their home and almost all their savings. It states that as many as 40000 people who fund their own care fees will see their assets depleted to little or nothing.

Self funders typically spend 4 years in residential care with 12% staying there for 8 years. At an average annual charge of £27000 this can cost a minimum of £108000 up to a maximum of £216000.

Those without assets and savings above £14000 are funded totally by the Local Authority and partly if they have assets and savings between £14000 and £23250. After that the full cost must be found by the individual .

Those who have saved all of their working lives can now find that they eventually finish up with nothing if they have to go into care at the latter part of their lives. They will find themselves in a similar position to those who have not been so prudent.

This is why a properly constructed Will is so important. Every married couple who own property should make a Will to include a Property Protection Trust or an Asset Protection Trust either of which will ensure at least one half of the value of the property will reach ultimate beneficiaries. The cost of doing this is often less than one week’s care fees.

For single people.widows or widowers a Lifetime Property Protection Trust can ring fence the residence for life and again provide some comfort for beneficiaries. This must be done well before there is any possibility of having to go into care. The cost of this route is equivalent to approximately one month in care.

The use of Wills and Trusts can prevent future pensioners from losing all their hard earned savings if they finally have to resort to Care Homes .

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