Blog
Aug 2021
Q&A: Why is my inheritance being passed to creditors?
A person’s debt unfortunately does not automatically get written off on their death. It could therefore be that your mother's estate becomes insolvent - if her personal liabilities exceed the value of assets. Therefore, creditors owed money can insist they are repaid, as far as funds allow. The liability does not pass to beneficiaries though, therefore creditors can only claim what funds are actually in the estate.
Aug 2021
The battle to access Child Trust Funds continues
Last year, we heard about the many thousands of disabled children who faced being “locked out” of their Child Trust Funds, because they will not be deemed to have the capacity to manage their own finances - and it seems very little has moved on.
Aug 2021
Q&A: Can I invest on behalf of my mum?
Q: My elderly mother has just gone into a nursing home. I have a financial Lasting Power of Attorney (LPA) which currently enables me to act on her behalf to look after her financial affairs. Her memory is getting worse, some dates are better than others, she is not safe though living in her home.
Jul 2021
Q&A: Can I buy mum’s house under market value?
Q: Since my father passed away two years ago, my mum has been considering downsizing to a smaller property that is more manageable for her in older age. She currently lives in a four bedroom property with a large garden in an area that my family and I are unable to afford to live in. My mum then made a very generous offer and said my wife and I could purchase her property at a significantly discounted rate, so that we could live there with our two children, but still allow her to downsize. It seems like a win-win situation, but, is there any reason why I wouldn’t be able to purchase mum’s property under market value?
Jul 2021
A Lasting Power of Attorney could help protect the elderly and vulnerable against fraud
During Covid-19, a new epidemic has started to take hold; the rise in online crime - and our elderly and vulnerable are particularly at risk.
Jul 2021
Life after Lockdown - Returning to the office
At the press conference on the 5th July, the Prime Minister announced the relaxation of the regulations on the 19th July subject to a review of the latest data on the 12th July. If the regulations are relaxed, then employees will be able to return to the office on the 19th July.
Jun 2021
Coronavirus Update - All change for the Furlough scheme (July 2021)
The Coronavirus Job Retention Scheme commenced in March 2020 and was implemented to help businesses during the pandemic. The Scheme allowed employers to place employees on furlough and only pay them 80% of their wages up to a maximum of £2500.
Jun 2021
Could the property market be turning back to towns and cities post-pandemic?
According to a recent report by Savills the UK property market could be about to turn back towards city living.
Jun 2021
Should the bank of mum and dad consider a declaration of trust as a condition of gift?
My husband and I are considering giving my son a gift of cash to buy his first house with his fiancée and her two daughters. The gift would be quite a sum and we are worried about what might happen in future if my son were to separate from his partner. Would she be able to profit from our gift and what can we do to protect it?
Jun 2021
Q&A: Thinking of including foreign assets in your will?
My sister lives in America but she was born in the UK and still has family here, as well as a property and bank account. When making her will recently, she was advised that any assets held in the UK couldn’t be included in probate there. This is a little concerning, as her pension and savings bonds are all paid into the UK bank account - I am worried these will not be covered by a will if drafted in America. My question is, should I ask her to draft a separate will using a UK lawyer to cover these assets? And, if this UK will is then witnessed and verified in America, is it still valid?
