A & K Warrington Ltd (April & King )

Text

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 hard-earned assets. subsequently received care in her later life she would have only been means tested on her own half of the house, but my grandfathers hay 1. Care Cost Fees e and make the new hushand next rkin. This often comes as big A lot of people are still unaware that if they need care in later life, their assets will be means-cested by the local athority to belp pary for these services. This goes back to the shock ro my clients who had perhaps that the family bloodline would one The same is true for thinking that will one day benefit under a mirror would have been safe Community Care Act 1990, whichWhy should he have to came inco foece in 1993 If someone requires social care in later life, thhe local authority wil he didn't receive any care? The important factor is that couples will If any of your children should husband or wife and that son-in- umil they get down to a lower limitnend to act in advance. Once one oC14.250 when the local authority parry dies oe loses mental capaciry, will take over the fees. a stroke for ecamplt, they marr then your are no longer in a position to do this type would be the ones to lose Paul knows this all too welr Pual King, Head of April King Legal Lis Worse still, someone elses parent become incapacitated, butly for a onder from the Court away recently at the age of 92. My is therfore important for couples grandfacher had died ay yearsct now even ithey may not earlier and left everything toher. foresee carefees being an issue. where the parent should be living and how they receive care. Your expensive peocess. It is therefore a good idea or dlients to plan ahead When she needed care in thelast Paul goes on to explain a further benefit of all your years aormeys, agalin perhaps your d remove any future burden from t all times. Yuca Oace again, all adults should be children or a business sees are surprised to learn that to her, the house and all the estate remarriage usually cancels a will were counted in the local authority's and makes the new spouse next in I've experienced this in my own thinking of this, particularly where faml and Iim sure most people have either ontly or independently, and line to inherit, ahead of their somrone who has, Bloodline trusts options availablk will give greater protection to your to think about when you get oldet, Protecting your half of the house in We've worked hard all our lives, why should the local yourchildren ultimately inherit Paul contnues: "These thingscan authority get it all" o discover that even joint People think Im not il to trusts will. Under these toypes of wils your children have complete contrel Had my grandeocher remarried Just as she died, she had gone om to that lower imlt of and that's all that her children after the drath of my granthr the whole estate could have passed ees sight of a lasting power of receive from you but give added protection from the twists and turns of modern family fe. The wordingHaving a lasting power of anorncy is a document that hasto be done in advance. Paul adds: "The next part There are mamy mythsabout the It's another imgortant reason fo in these s sanes that any moncy removes the burden on children to toappoin the a left over on their demise must pass to any children born of them-your should , health happen further down the line, t helps a family deal with bank acoounts and so on ildren. Dont forget, your children this. The main one is that a paree shoald simply sign their house ove.loodine Trust Wills can be the executors of your will and as well The lasting power of amorney remains in place until while they are still in good mental Once its registered, you dont have It someone becomes ill through sa. AebilMaringilness. A burden has 3. for means The of compleee a lasting power of amorney you die unless you want to majority of April King's cliems have alreay made standard "mirror Attorney tating That's just not true. took to see if you've'deliberatelyppchng the 6rm A mirror will confused thinking that, because giving property away, going back each other on the fiest death, then executors can also deal with assetsif is when a couple leave everything to they have made a will, their is lost and the tamily would have eady dificult time to the children when the second there is illness, stroke ot some other Sometimes people think if the gift Partner dies. But moderm family life form of incapacity while they are s made seven years prior then the means these type of wills leave a lot April King This is not soasthe seven-year rule Explains Paul . yi have mirror cely applies to Inberitance Taxand i leaving everything to my wfe not local authority care The solution is for couples to simply hushand or the local authority are not leave everything to each other ink documents-awill that deab with their estate on death, and a lasting and she remarries or goes into care power of actorney that deals with FREE INFORMATION PACK To receive your free, no obligation info pack visit aprilking.coukor call us on after my death then either the new their esate during their etime, The lasting power of attorney is a divided ito two parts-one deals likely to inherit most, if not all ofmy estate ahead of my children Paul coetinues: "What my grandfather could have done is 800 16143 with finance. the other deals with in my mirror will it health and couldn't have it while his wife, my s by no means certain that grandmother, was still alve. We cal these Property Trust Wills that's registered now and one which herit anything. canbeoy hould the need arise. It Lines open Mon-Fri Sam-spm, Sat & Sun oam-4pm April King has 35 offices across the Midlands. Your local office is: Encerprise House, Ocean Village, Once again, this is because a remarriagr would cancel the wil mty If my grandfather had left his children, to deal with banks and pension conpanies ec should their had