PROMOTION2019 is the year Imakemy Will. I promise!It's taken me 20 years but I am finallygetting round to making my Wilt may come as a surprise but comments like this from clientsare quite common. Big life events like owning a home or havingchildrencan prompt thoughts or stimulate discussion, but it canrequire another leap toactually seeing your solicitor tosortitout.If this sounds like you then why not make 2019 the yearyou finallymake true your New Year's Resolutions and do some serious estateplanning. And don't stop wih the Will, here are a few top tips forgetting your estate planning on track:Make a Will. Think about what will happen to your Estate whenyou are no longer here, who you would like to deal with theadministration and, ifyou have young children, who will be theirguardians?Make a Lasting Power ofAttorney. There are two types: Property&Financial Affairs and Health& Welfare. You can appoint Attorneysto step into your shoes to manage your affairs. Even if you havwemental capacity the Property&FinancialAffairs L.PA canbe usefulif you plan to be away for a long period and what someone else tolook after your finances or business interests,Consider Inheritance Tax. Inheritance Tax made headlines in 2017with the introduction ofthe residential nil rate bandallowance,that is set to benefit spouses witha lllonlrate band by 2020.But the rules for this very helpful allowance are complex and donot apply in all cases..Create a Trust. A trust is created when you give assets to peopleyou choose (the trustees) to hold for the benefit of others (thebeneficiaries) Itcan be setupduringyourlifetime (byusinga trustdeed) or upon death (by inclusion in your Will) and can be used asa practical tool for inheritance tax planning and asset protection.Property co-ownership. Joint property owners often make aDeclaration of Trust to clearly set out how the sale proceeds aresplit in the event of a sale. Such a document can be crucial whereco-owners contribute unequal amounts to the purchase priceFor more information on anyof the topics mentioned aboveplease contact:Susan Glenholme, PartnerDebenhams Ottaway01727 735636ottaway.co.ukdebenhamsottaway.co.uksgodebernDEBENHAMS O1rAWAYSOLICITORSYour aspirations are our inspiration

Date: 16 December 2018

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Debenhams Ottaway - Susan Glenholme

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PROMOTION 2019 is the year Imake my Will. I promise! It's taken me 20 years but I am finally getting round to making my Wil t may come as a surprise but comments like this from clients are quite common. Big life events like owning a home or having childrencan prompt thoughts or stimulate discussion, but it can require another leap toactually seeing your solicitor tosortitout. If this sounds like you then why not make 2019 the yearyou finally make true your New Year's Resolutions and do some serious estate planning. And don't stop wih the Will, here are a few top tips for getting your estate planning on track: Make a Will. Think about what will happen to your Estate when you are no longer here, who you would like to deal with the administration and, ifyou have young children, who will be their guardians? Make a Lasting Power ofAttorney. There are two types: Property& Financial Affairs and Health& Welfare. You can appoint Attorneys to step into your shoes to manage your affairs. Even if you havwe mental capacity the Property&FinancialAffairs L.PA canbe useful if you plan to be away for a long period and what someone else to look after your finances or business interests, Consider Inheritance Tax. Inheritance Tax made headlines in 2017 with the introduction ofthe residential nil rate bandallowance, that is set to benefit spouses witha lllonlrate band by 2020. But the rules for this very helpful allowance are complex and do not apply in all cases. .Create a Trust. A trust is created when you give assets to people you choose (the trustees) to hold for the benefit of others (the beneficiaries) Itcan be setupduringyourlifetime (byusinga trust deed) or upon death (by inclusion in your Will) and can be used as a practical tool for inheritance tax planning and asset protection. Property co-ownership. Joint property owners often make a Declaration of Trust to clearly set out how the sale proceeds are split in the event of a sale. Such a document can be crucial where co-owners contribute unequal amounts to the purchase price For more information on any of the topics mentioned above please contact: Susan Glenholme, Partner Debenhams Ottaway 01727 735636 ottaway.co.uk debenhamsottaway.co.uk sgodebern DEBENHAMS O1rAWAY SOLICITORS Your aspirations are our inspiration

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