Power of attorney for business owners

You may think of special powers of attorney as something that could be relevant to your life outside of work. For example, if you became unable to manage the household finances or make decisions about your care arrangements. However, business owners are also urged to set up an arrangement known as a Financial Lasting Power of Attorney (LPA). That way, should you become unable to run your company due to accident or illness, then control of your company can be passed swiftly to the trusted person you have nominated as your attorney. If you don’t put an arrangement of this…

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What you need to know about the Court of Protection

One of the most common health issues of the ageing population in the UK is dementia. The Alzheimer’s Society 2014 updated report advised that;The total number of people with dementia in the UK will be 850,000 by 2015 and forecast to increase to over 1 million by 2025 and over 2 million by 2051. With the first wave of baby-boomers reaching their 70s in 2015 more and more people will have relatives or friends that may suffer from health conditions, such as dementia, that could affect their ability to make significant decisions about their money or property. When will you…

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How to Protect and Preserve Your Wealth For The Next Generation.

  With house prices rising increasing people’s net worth, failing health and concerns about the cost of residential care, many retired homeowners are considering ‘gifting’ (signing over) their property to their children as a way of preserving their assets. They mistakenly believe gifting will reduce the value of their estate and help them minimalise costly care home fees or allow them to pass on the responsibility of managing their assets when they become vulnerable, incapacitated or ultimately on death. How a Will Trust Can Help Couples Preserve Their Estate For couples, leaving your property in a Will Trust is an…

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