News & Comment
Private Client Update
11/06/2020
During these unprecedented times, many of us will be turning our minds to previously overlooked topics. One of these may be decision about our end of life care. Lasting Powers of Attorney (LPA) are legal documents that appoints one or more individuals, called attorneys, to make decisions on your behalf. There are two types of LPAs: Property and Financial Affairs and Health and Welfare.
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Private Client Update
11/06/2020
We are all aware of the effect that the Coronavirus pandemic has had on the country’s economy and many of the population’s personal financial stability. You may have family members or friends who have been affected and want to do all you can to help them. If you find yourself in the fortunate position of being able to provide financial support to your loved ones, and your estate is likely to be subject to IHT on your death, Wansbroughs are here to ensure that you do so in the most tax efficient way.
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Lasting Powers of Attorney and Discretionary Management Powers
11/06/2020
When Lasting Powers of Attorney (LPAs) replaced their more simplistic predecessors (EPAs) in 2007, an opportunity arose whereby the person making the LPA (the donor) could include more specific guidance for their attorneys than had previously been possible. While a few clients chose to stipulate that their attorneys must not, for example, invest in companies supporting certain political parties, far more chose to provide no additional guidance, instead leaving the decision-making in the hands of their carefully chosen attorneys without restriction.
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Ken Dodd's Last Laugh
11/06/2020
How Ken Dodd saved millions on his estate
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A Reprieve on Grant of Representation Fee
11/06/2020
The Secretary of State for Justice, Robert Buckland has announced that threatened plans to significantly increase probate fees have been scrapped
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The Residence Nil Rate Band: who wants to be a millionaire?
11/06/2020
It’s the topic nobody enjoys thinking about but in the words of Benjamin Franklin, "nothing can be said to be certain, except death and taxes". In fact, taxes are so certain, they follow us beyond the grave. For example, for many, our biggest asset is our home and will be the most substantial gift we can leave to our loved ones. Unfortunately with the increase in property values, it is often the case that if you are leaving your property to a loved one, other than your spouse who can benefit from the spouse exemption (see our article Ken Dodd’s Last Laugh), they could be met with a whopping inheritance tax bill.
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