AdvisingFamilies

Who should you choose to be your attorney? 🤔 No one knows what’s going to happen in the future, and it can be reassuring to plan ahead to make provision for yourself and your family if anything were to happen to you. Making a will is a useful first step, but you may also consider making a Power of Attorney in case at any point you become incapable of managing your own affairs through age, illness or accident. 📖Read more in our article: bit.ly/4tuCxrI 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #PowerOfAttorney #EstatePlanning

What is probate? 🤔 Watch this video to find out. 📖You can learn more about probate in our article: bit.ly/4sO86wW 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #Probate #EstatePlanning

What are Asset Protection Trusts? Why do you need to be wary of them? Find out in our article by estate planning specialist Amy Lane TEP from Gunnercooke as she discusses these types of trusts and ways to effectively manage care fees. 📖Read more in the article: bit.ly/4v06HVA 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #Trusts #EstatePlanning

Can gifts you make during your lifetime be challenged after your death? 🤔 Making lifetime gifts to reduce the value of your estate on death for inheritance tax purposes is a useful way to preserve wealth down the generations. However, there are many factors to consider when making gifts and it is therefore important to take tax and legal advice before making gifts. 👉Read more in our article about making gifts: bit.ly/4swnAWd 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #Gifts #EstatePlanning

What is a Larke v Nugus request? 🤔 Where there is a dispute about the validity of a will, one way to avoid unnecessary legal hurdles is for the will writer to prepare a statement about the circumstances in which the will was made. A Larke v Nugus request is a letter that is sent to the professional who prepared the will to gather as much information as possible about how it was prepared and executed. 📖Read more in our article: bit.ly/4rTyKmU 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #EstatePlanning #Wills

How can you leave your pension to the person you choose? It’s easy to think that everything you own will be distributed according to your will when you die. Your pension, though, is a different matter. You will need to specify who will benefit, via a particular form, known as a nomination form or Expression of Wish form. 📖Read more in our article: bit.ly/47jSFnz 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #Pensions #EstatePlanning

How do you find the right care home? If you have a relative going into residential care, there are a number of issues to think about, and not all of them financial. In our article Heledd Wyn TEP recommends that you take steps including: ☑️Ask for recommendations ☑️Check out the finances ☑️Do some research 📖Read more in our article: bit.ly/4uNe6Yj 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #CareHome #Care

Farming families and inheritance tax changes have been in the news in the UK since the October 2024 Budget. We have an article where you can read the recent developments on this issue, including the UK government raising the cap on the amount of inheritance tax relief at 100% to £2.5 million from the originally proposed figure of £1 million. Read insights on the topic from estate planning specialists John Bunker TEP and Naomi Neville TEP as they give you the latest information on this important issue for farming families in the UK. 📖Read more about the changes: bit.ly/4sMi01C 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #InheritanceTax #UKBudget

What makes a will legally valid? ✍️ A will is a crucial legal document that ensures your wishes are carried out after your death. However, for a will to be legally valid, it must be properly signed and witnessed. 📖Read more about valid wills: bit.ly/4sOEu21 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #wills #estateplanning

What is a Lasting Power of Attorney? How do you create one? You can find out more about this important part of preparing for the future in our video! 👉Read more in our article: bit.ly/4bDLYiu 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #EstatePlanning #PowerOfAttorney

The financial prospect of paying for a loved one’s care can be daunting. A Care Annuity, also known as Care Fee Annuity or Care Home Annuity might be a useful long-term solution for managing these costs. Watch the video to find out more a Care Annuity! 📖Read more in our article: bit.ly/3MZPoTv 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #CareFees #EstatePlanning

If you have a will, it is likely that it includes the ‘STEP Standard Provisions’. What are the STEP Standard Provisions? 🤔 They are a set of ready-made clauses that can be inserted into a will and provide protections and powers that enable the executors or trustees to effectively deal with the estate. 📖Read more in our article: bit.ly/4rgk0xV 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #Wills #EstatePlanning

Many family business owners in the UK underestimate the immediate impact that their sudden absence, due to death or incapacity, could have on the daily operations of their business. An Emergency Board Plan provides guidance on managing the business in the event of a sudden absence, outlining short term key roles and responsibilities. 👉Read more in our article: bit.ly/4ric9js 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #FamilyBusiness #EmergencyBoardPlan

Keep yourself safe from financial harm. We have developed resources for STEP's 'Spot the signs' campaign to help people spot the signs of financial abuse and help individuals protect themselves from this kind of abuse. 📖Explore our campaign resources: bit.ly/4ktvUmu 👉Find out more about the campaign: bit.ly/4rg9eJ6 #FinancialAbuse #STEPSpotTheSigns

Pensions are far more than a way to save for your retirement. For example, pensions are a very tax efficient way to save. As long as you remain within the maximum limit, you receive tax relief on contributions paid into your pension. 📖Read more in our article: bit.ly/4u3ZeUW 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #Pensions #EstatePlanning

Did you know that getting married or registering a civil partnership revokes any prior will? 🤔 There is an exception to this rule. You can do your will in advance, and state that the will is ‘in contemplation’ of the marriage or civil partnership. 📖Read more in our article: bit.ly/4rPip3h 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #Marriage #Wills

What is probate? 🤔 Watch our video to find out as we explain this commonly used term. 📖Find out more about probate and avoiding delays: bit.ly/4aNQklE 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #Probate #EstatePlanning

Are you considering setting up an Asset Protection Trust? Why should you be wary of creating one? An Asset Protection Trust is a trust where people transfer assets (usually their home) into the trust during their lifetime, to keep them outside means-tested assessments on their estate. 📖In our article, estate planning specialist Amy Lane TEP from @gunnercooke, discusses these types of trusts and why you should be wary of creating one: bit.ly/4secYuJ 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #Trusts #EstatePlanning

We have updated our article focusing on farming families managing the inheritance tax changes announced by the UK government in the October 2024 Budget. We include recent developments on this issue, including the UK government raising the cap on the amount of inheritance tax relief at 100% to £2.5 million from the originally proposed figure of £1 million. In our article estate planning specialists John Bunker TEP and Naomi Neville TEP give you the latest information on this important topic for farming families in the UK. 📖Learn more in our updated article: bit.ly/3OmPYLj 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #InheritanceTax #APR

Do you have questions about gifting money to a loved one or a charity? 🤔 In our article estate planning specialist @RobinMelley TEP from @matrixcapital explains what to consider when gifting, including which gifts may be made without worrying about inheritance tax. 📖Read more in the article: bit.ly/4c3kMdM 📞Speak to an estate planning specialist: advisingfamilies.org/uk/find-a-tep #Gifts #EstatePlanning