Date: 08 March 2018
07 April 2018 (47 days ago)
Simple steps homeowners can take now to protect their assets Head of April King Legal Paul King explains why some homeowners are doing too little, too late to protect their Care Cost Fees "If my grandtather had left his t allows the attomcys, perhaps the children, to deal with the "A lot of people are still unaware half ofthe house in trust to the that if they need care in later lifc,children then when my the Local Authority to help pay for received care in her later life she would only have been means incapacitated, but also to deal with matters such as where the parent should be living and how P'aul King, Head of April King Legal The Local Auority will look to tested on her own half of the house, but my grandfather's half they should receeive eare. would have been safe use the assets of a get down to a lower limit of C14,250, when the Local Authority "Why should he have to The Lasting Power of Atorney This ofen comes as a big shock remains in place until you die to my clients who had perhaps ·Your attorneys, again perhaps your children, must legally act in unless you want to cancel .thought that all was in order and contribute his half when your best interests at all times he didn't receive any Once it's registered, you don develop some debilitating advises on the various optios removed from the family at an will one day benefit under a Bloodline Trust Wills will take over the fees. one day inherit. attorneys to act, either jointly or independently, and April Ki ess. A burdens has been The same is true for thinking that their ehildren and or grandchildren grandmother sadly passed away roeently at the age of 92. My grandfather had died many years The important factor is that carlier and left everything to her."couples need to act in advance available "When she needed care in the last Onee onc party dies or loscs six years of her li "Couples are often surprised to discover that even joint bank accounts "If any of your children should die hushand or wife and that should then remarry, then your The majority of April King's for example, then they are no longer in a position to do this clients have already made her, the house and all the estate can until the other firms befoee I is therefore important forLasting Power of the Firm A Mirror Will is when ose out under the line of grandchildren would be the ones to "Our clients tell us, We've worked hard al ot foresee care foes being an Attorney document" Worse still, someone Having a Lasting Power of scod partner dies. But modem Local Authority get it ul goes on to explain that most Altorney removes the burden on family life means these type of clients he sees are surpeised to children should ill health happen Wills leave a los to chance lean remarriage usually cancels a further down the linc. Will and makes the spouse next in "t helps a family deal with bank rrWill aving everything years of hard work. would be in line to the benefit of all your Explains Pal: If have a "Just as she died, she had gone down to that lower limit of 14.250 and that's all her chaldren line to inherit, ahead of their own he s ensures that your children uely inberit when the accounts and so on parent's lifetime and ceases on death to my wife and she remarrics or "'ve experienced this in my own goes into care after my death family and I'm sure most then either the new busband or have had similar experiences or the Local Authoity are likely to heard of somcone who has. are many myths about the e to protect "Bloodline Trust Wills give greater These type of Wills not only give your chaldren complete control and receive from you, they also grant assets from being used like svor dies. while you are still in good me "If somcone becomes ill through option is lost and the family estat ahcad of my children. "Even if my children are named in my Mirror The main one is that a parentafer the death of my grandfather the whole estate could have hould simply sign thein over to the children now, so it t be taken into certain that they will or meanstesting. That'sjust mot Lasting Power of Attorney Deputyshijp Order from the Coat inherit anything. protection from the twists Paul explains how people often because they have made a Will, of Protection- a drawn ou "Local Authorities will actually look to see if you've 'deliberately remariage would cancel the wil my wife had previously The wording in these Wills states that any moncy left over on their t is therefore a good idea for executors can also deal with clients to plan ahcad and remove made with me and make the new any future burden giving property away, going back born of them-your ts if there is illness, stroke or some other form of incapacityfamily. from the O April King 2017 "Sometimes people think that i whale they are still alive. the gitt is made seven years prior Everyone should actually have then the house is safe. This is not Onee again, all adults should be thinking of this, particularty when there are children or a business April King has prepared a free information pack a Will that deals two documents- with their estate on death, and a invoved. which is available by calling 0113 322 6212 Lises open Mon-Fei Kam-7pm, deals with their estate during their about when you get older, that's the e "The solution is for couples to fetime." he each other in the first place What my grandfather could have with finance, the other deals with ill, why do I need to Sat t le think, 'm not You can also email infoa aprilking.co.uk or visit done is leave his half of the house health and welfare in trust to his children, stating that "In many ways it's similar toa Attorney?"But t April King regissered now and one which can missing the point. This is be April King has 24 oftices across the Midlands Your lecal office is: Pres Exclange, Princes Square alive. We call these Property Trust a document that has to attomeys should the need arise be done in advance."