News archive: November 2014

  • Posted on November 24, 2014
    Most people are concerned about protecting their home and savings to ensure they pass to their children or other chosen beneficiaries.

    The use of a Trust for estate planning can solve all these problems and also give comfort to people who are concerned about the needing to obtain a Grant of Probate following death and the cost implications; this can be avoided if a Trust is used. Another consequence of using this trust for estate planning purposes is that assets held within the Trust can be protected from the impact of long term care fees in certain circumstances.
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  • Posted on November 18, 2014
    Those in need of long-term care often face considerable bills and most must carry the burden themselves – the result being a depletion of their personal assets.

    Whether the care includes in-home help for daily activities or more specialist care within a residential home, annual costs can average £26,000. Assistance is based on a financial assessment and those with assets of more than £23,250 – which for many includes the value of their home – are required to cover the costs themselves.
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