• 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...

Pensioners beware

Chancellor George Osborne appears to have befriended pensioners in his latest budget by freeing them from having to purchase an annuity with their pension pot. The ability to draw down large lump sums at or after retirement appears to be a welcome move.

There could be a downside however. If the lump sum is used to buy an asset or remains in your bank account then if you are taken into care it could feature in your means test and cause you to pay in full the fees for your care. At present income from annuities is not subject to the means assessment. Considerable attention should then be given by newly retired pensioners to this possibility.

‘Care Fees and Inheritance Tax are the two major risks for Inheritance’ says David Dexter,’ and the Chancellors budget has not reduced those risks at all. In fact it has probably increased them.’  In addition to the potential Care Fees liability the lack of adjustment to the Inheritance Tax threshold means far more families will fall into the net by 2018/19 This will result from the rising house prices and the freezing of the threshold.

‘Proper planning through Wills and Family Trusts is essential to retain what has been built up over a lifetime of work ‘concluded David.