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Stephen Duffy
    • Stephen Duffy

    • Head of Private Client, Partner
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5 reasons for having a Health & Welfare Lasting Power of Attorney

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A Health & Welfare Lasting Power of Attorney (LPA) is a legal document that enables a person (known as the Donor) to appoint another person (known as the Attorney) to make decisions on their behalf in relation to health and welfare matters. The LPA takes...

The Residence Nil Rate Band - assumptions could cost £140,000 in tax

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Not considering the finer detail of the Residence Nil Rate Band (RNRB) rules could cost £140,000 in Inheritance Tax (IHT)! Under the RNRB rules, introduced in 2017, individuals can claim an additional allowance of £125,000 to reduce IHT due on...

Estate planning - Business Relief keeps you in control

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Estate planning – that is, putting in place measures to ensure that our assets pass to the right people, and with the payment of as little tax as possible – is often put off. Sometimes this is due to the misconception that estate planning is too...

Power of Attorney fee refund scheme launched

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Anyone who has registered a Lasting or Enduring Power of Attorney between 1st April 2013 and 31st March 2017, and who may have been over-charged in the process, could be entitled to a partial refund, on request , of the registration fee under a new scheme...

'Baby boomers' predicted to give 'millennials' an inheritance boost

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A report published by the Resolution Foundation predicts that leaving an inheritance will become commonplace during the next 20 years, with ‘millennials’ born between 1981 and 2000 identified as the main beneficiaries. Historically, living...

Christmas gifts that keep on giving

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Christmas shopping usually means a visit to the high street or browsing online retailers, but the season of giving can be a good time to make sure you are maximising your opportunities to reduce your potential inheritance tax liability. Anyone can make...

Lasting Powers of Attorney: are they the right thing to do?

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Denzil Lush, who was a senior Judge in the Court of Protection for 20 years prior to his retirement, has recently criticised the system of Lasting Powers of Attorney (LPAs). He said that an LPA can have a devastating effect on family relationships, and...

Proposed social care reforms: when is a "clarification" a U-turn?

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"Nothing has changed, nothing has changed!" This was the cry from Teresa May who has clarified her plans for reforms to social care, which were set out in the Conservative Party manifesto last week. Our previous blog post covers the proposed...

Conservative Party Manifesto: a triumph or a tragedy for social care?

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On 18 May 2017, the Conservative Party Manifesto 2017 was launched ahead of the upcoming election. One of the topics covered in the manifesto is the problem of our “ageing society”. The manifesto says: “as our society ages, the costs of...

The importance of being prepared

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I recently had a situation arise with clients of mine which highlighted the benefits of having a Health & Welfare Lasting Power of Attorney (LPA) in place. Mrs Jones had been living with dementia for a number of years, and had reached the stage where...

Inheritance disputes fuelled by second marriages and excluding adult children from Wills

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Inheritance disputes are no longer the preserve of the wealthy. The trend towards more inheritance disputes has been attributed to a number of factors, including the rise in divorce and second marriages, and a willingness on the part of adult children who...

Call for councils to regularly review care home residents' assets

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The Care Act 2014 introduced a legal duty for each Local Authority to assess every self-funding resident of a care home in their locality, but this duty has since been delayed until April 2020. However, a recent decision by the Local Government Ombudsman...

Where there's a Will...

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It is estimated that around 70% of the adult population do not have a Will. Without a Will the law decides who will inherit your estate, who will look after any minor children, and who will administer your estate. Making a Will allows you to make all of...

Consider a Lasting Power of Attorney (LPA) for you and your business

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When we plan for the future we must consider the possibility of becoming unable to look after our own affairs due to physical or mental incapacity. This can be even more significant if you own or run a business. A Property & Financial Affairs Lasting...

Becoming a Court appointed Deputy

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In the absence of a Lasting Power of Attorney or Enduring Power of Attorney, no one can make decisions relating to the assets or wellbeing of a mentally incapable person until a Deputy is appointed by the Court of Protection. A Property & Financial...

Immediate Care Fees Plan

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For those already in a care home, one funding option which could be considered is an Immediate Care Fees Plan. The plan is a contract between the resident of the care home and an insurance company that guarantees to pay a series of regular payments in return...

Parents try to force Facebook to yield up sons digital estate

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A couple from Wisconsin, USA, have obtained a Court order requiring Facebook to give them access to the accounts and online assets of their late son, but the social media company has so far refused to comply. Benjamin Stassen committed suicide in 2010,...