7 Days: 10.00 am - 10.00 pm
Unit 3, Sage Walk, Tiptree, Colchester, CO5 0AR

Author page: Kevin F. Heath MSWW

Author page: Kevin F. Heath MSWW

WHAT IS A BUSINESS PROPERTY RELIEF TRUST?

What is a Business Property Relief Trust? A Business Property Relief Trust (BPR) deals with qualifying assets left in a Will, ring-fencing them from Inheritance Tax (IHT) and Capital Gains Tax (CGT). It is a Discretionary Trust (DT) that takes assets that qualify for BPR and places them into a Trust. Why use a Business Property Relief Trust? If a business owns property or AIM-traded shares, the passing of these assets in a Will can cause serious tax implications for the beneficiary. The assets will be…

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HOW CAN THE MENTAL CAPACITY ACT AFFECT MY BUSINESS?

The Mental Capacity Act 2005 How the Mental Capacity Act 2005 can adversely affect your business, and how simple forward planning can mitigate the threat The Legislation can be read here, however, only sections 2 and 3 are pertinent to this article. The Mental Capacity Act 2005 (the Act) was set up by Tony Blair’s Government in order to provide care for people who are unable to communicate their needs. This lack of mental capacity could be caused by accident, illness or age and is…

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WILLS FOR COMPANY OWNERS

Business Continuity Wills An often overlooked aspect of a Business Continuity Plan is how a business owner’s Will can affect the surviving owners of a business. It is important to check that a limited company’s Articles of Association or a Partnership Agreement do not contradict instructions left in the Will and it would be prudent for the Will writer to have sight of any relevant documents prior to drafting the Will. For the purpose of this article, the term “owner” refers to:…

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CAN I PROTECT MY HOME FROM CARE HOME FEES?

Can I protect my house from care home fees? Yes, you can by using a Trust to ring-fence your assets. Does the Government think you should use the equity in your home to pay for end-of-life or long-term care? Well, according to Thurrock MP and former social care minister, Jackie Doyle-Price… Yes, you should! This is a question I get asked regularly. Without forward planning, this is a very real problem. But, there is a solution. Before I give you the solution, let’s look at what Doyle-Price said…

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WHAT IS A DEED OF TRUST?

What is a Deed of Trust, and who is it for? In the United Kingdom, a Deed of Trust, also known as a Declaration of Trust, is a legally binding document that states the division of property ownership. It is used by “Tenants in Common” who contributed various sums to the property’s purchase. If the property is sold or one party wishes to be bought out in the future, both parties will know exactly where they are until the Declaration of Trust is in effect. Setting out these contractual arrangements…

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WHAT ARE THE FEES TO REGISTER A LASTING POWER OF ATTORNEY?

What are the fees to register a Lasting Power of Attorney? Lasting Powers of Attorney are registered by the Office of the Public Guardian (OPG). OPG fees to register one LPA: If the donor (applicant) has an income of £12,000 or more per year, the fee is £82.00 If the doner has an income lower than £12,000 per year, the fee is halved to £41.00 If the donor is in receipt of any of the following means-tested benefits, the OPG will register the LPA’s free of charge. Income Support Income-based…

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WHAT CAN GO IN A LETTER OF WISHES FOR GUARDIANS?

What can go in a Letter of Wishes for Guardians? What can go in a Letter of Wishes for Guardians? A Letter of Wishes is an adjunct to the Will, and gives instructions to concerned parties: in this instance, Guardians. Firstly, it is important to know that you cannot legally compell your chosen guardians to abide by a letter of wishes. It is to be used as a guide to how you wish your child to be looked after, so choosing guardians you trust is of the utmost importance.…

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Contact Information
3 Sage Walk, Tiptree, Colchester, CO5 0AR
7 days: 10.00 am - 10.00 pm
Contact Information
3 Sage Walk, Tiptree, Colchester, CO5 0AR
7 days: 10.00 am - 10.00 pm

© The Will Corporation Limited 2022. All Rights Reserved.

© The Will Corporation Limited 2022. All Rights Reserved.