To make sure that your assets are protected you need to plan and you need to make provision. This can be complicated and time consuming; Cohen Cramer can remove the worry and stress and give you peace of mind knowing that your loved ones will be taken care of when you are no longer in a position to do so.
You don’t have to be wealthy to think about making provisions to protect your assets nor do you have to be in your later years; none of us knows what is around the corner.
It may be that the assets are not your own but you want advice on how your parents can preserve their wealth and property in the event that they need long-term care or medical assistance. Again, we can help you ensure that your parents’ assets are disposed of in accordance with their wishes.
Did you know:
- The cost of residential care home fees can swallow up the equity in your ownl home.
- Your ill-health may prevent you acting in a way that you would want, leaving such decisions to non-family members
- Dying without a will can mean your estate is distributed according to strict, inflexible, legal rules
How can I protect my assets?
To ensure that your assets are protected you need certainty.You can ensure that you and your loved ones are taken care of by means of the following:
- Make a will
- Make a ‘Lasting Power of Attorney’ (LPA)
Why make a Will?
- To provide some certainty and reassurance.
- To appoint who want to deal with your estate.
- To limit potential disputes between family and friends.
- To protect your assets for future generations.
- To make potential savings on inheritance tax.
- To make arrangements for your children through guardianship.
- To protect your minor children or perhaps a disabled beneficiary through a special trust.
- To guide your loved ones on wishes and funeral arrangements.
Why make an LPA?
- You can make advance decisions as to how matters relating to your health are handled and dealt with (health and welfare LPA)
- You can make advance decision as to how your property and financial affairs are handled (property and financial affairs LPA)
I have a business can I protect that?
If you own a business and have no provision in place for when you die, things could get a little messy for those left behind. It is likely you have put a lot into that business and you may want it to continue to run or grow even when you are not here to see it.
Have you ever asked yourself:
- Who will continue to run my business or take decisions in relation to my business on death?
- Who will have power to continue running my business?
- What are the consequence of the rules of intestacy on my business should I pass away with no valid Will in place?
- What is the inheritance tax position on my business and what tax reliefs are available?
To see how we can help protect your assets and make sure that your loved ones are secure in their old age get in touch with us for a confidential, no obligation chat to see how we can take care of tomorrow today.
- Call: Gail Sandford on 0113 224 7813
- Email: email@example.com
- Request a call back using the form at the bottom of this page
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