TRUSTS

This is a complex area of the Law that can be a minefield for the unwary. Trusts, when properly drafted by a Solicitor, can be a very useful legal "vehicle" for achieving a large number of different aims including:-

• As a means of tax planning, care funding and asset protection in your lifetime.
• To protect and preserve your assets for future generations eg your grandchildren.
• To save tax through your Will on death

.
We can advise you on accumulation and maintenance trusts, discretionary trusts and all other forms of Trust.

LASTING POWERS OF ATTORNEY

A Lasting Power of Attorney (LPA) is a legal document granting a person(s) the power to act on your behalf in all matters that you would ordinarily deal with yourself. Once in place, the LPA enables the Attorney to deal with whatever assets you have stipulated.  The LPA is registered with the Court and remains in force even if you lose your faculties. 
You can appoint a family member or a friend as your attorney, or you can appoint a professional person such as an Accountant or Solicitor.

SHOULD I MAKE AN LPA?

A clear and unequivocal YES! Everyone should make an LPA. If a person for whatever reason (be it ill health, old age or other reason) becomes unable to deal with their own financial affairs, then a friend or relative will have to apply to the Public Guardianship Office (formerly the Court of Protection) to be appointed a Deputy to manage that persons affairs. This procedure is complicated and can involve substantial time and expense. A much cheaper, quicker and better alternative is for you to make an LPA when you are still in good health. We recommend that clients consider making an LPA when they are making or changing their Will.

Enduring Powers of Attorney made before October 2007 remain effective.