Posted on 25th March 2020 at 15:14
Posts from March 2020
Posted on 20th March 2020 at 10:08
The Covid-19 pandemic puts things in perspective and shows just how crucial it is to make and put in place a Will or Lasting Power of Attorney. With concerns at the forefront for both clients and Will Writers in the event of a ‘lockdown.
There will be a lot of advisors worried about carrying out face to face meetings, in particular with vulnerable clients, and how it will affect themselves too.
The outbreak of Covid-19 in the UK population will, for many, bring into sharp focus the importance of having in place an up-to-date will. As it become necessary for companies to work at home, and restrict face to face contact with clients, or even close their doors temporarily, this could impact on the ability of clients to put in place new wills or Lasting Power of Attorney documents.
For clients who are self-isolating or do not wish have a face-to-face meeting, there are other options available. I can offer Telephone call for will writing services in which I can take instructions and provide advice over the telephone, and then providing draft and final wills via email or post.
In usual circumstances, those with complex needs will usually benefit from a face to face meeting, but if face to face contact is restricted, there is no reason a detailed conference could not take place over the telephone or by video call.
The position in relation to vulnerable clients, including those in nursing homes or hospitals, is likely to be more complex. Such people often need face to face meetings as it may not be possible to take their instructions using other methods, and there are more likely to be concerns about issues such as capacity and undue influence. I where possible will remain for as long as possible willing to carry out visits to such clients, but hurdles will be faced if, for example, many nursing homes and hospitals are restricting visits. In such cases it will probably be necessary to liaise closely with family members and relevant parties such as nursing home staff, in order to try and facilitate the most appropriate arrangements for meetings to take place with these vulnerable clients. It goes without saying that those undertaking visits will need to be mindful of guidance regarding close contact with individuals in order to protect themselves and others as far as possible.
I am always at the end of a phone for help and advice.
Posted on 17th March 2020 at 13:43
Posted on 16th March 2020 at 17:53
The Government is being urged to make changes to inheritance tax (IHT) to help families that will see their estate exceed the IHT threshold.
The proposals from the All-Party Parliamentary Group (APPG) on Inheritance Tax and Intergenerational Fairness says that the current 40% tax should be reduced to a flat rate of 10%, and that estates worth over £2 million should pay a 20% rate.
Posted on 9th March 2020 at 18:30
Many grieving families spend a long time completing detailed paperwork to report the value of a loved one's estate, even when there’s no inheritance tax (IHT) to pay.
Experts say the reporting requirements for possible inheritance tax bills are too complicated, not fit for purpose, and are overdue for reform.