Gamlins Wills & Probate Blog

Lasting Powers of Attorney - Preparing Sensibly for the Future Given the nature of the ageing population and worry of falling into ill-health in later life, people are often concerned about the future cost of their care and their ability to pass on their estate to their loved ones. Whilst this is a genuine concern for people, an equally important thing to consider is making sure the right framework is in place for someone to be able to support you, if you are unable to make decisions for yourself anymore.   The best way of making sure someone can support you in the future is by setting up a Lasting Power of Attorney, this will allow you to choose the people you wish to make decisions on your behalf if and when you can’t decide for yourself anymore.   A Lasting Power of Attorney is an important document and it is vital to take care to make sure it is prepared correctly to allow you to be comfortably taken care of in the future.   There are two type...

How has the law regarding Inheritance Tax changed recently? Under previous law, individuals in the UK who owned an estate valued at less than £325,000 were not subject to an inheritance tax charge when they died, anything above this figure was taxed at a rate of 40%. The £325,000 allowance is known as a person’s “nil-rate band” and can pass between married partners, giving an overall £650,000 nil rate band for couples. However since April 6 th 2017 a new measure has been put in place allowing an additional nil rate band (applied to a person’s main residence) provided the property passes to a person’s direct descendants i.e. children or grandchildren (this also includes adopted, step and foster children). Initially this allowance will be £100,000 rising by £25,000 a year to £175,000 by 2020 meaning individuals will in the near future be able to dispose of up to £500,000 tax free and couples up to £1million between them. This additional nil-rate band is also available when ...

Eight members of our staff attended a Dementia Friends Session held by Dementia Champion, Lucie in our Rhyl office.  Dementia Friends in an initiative from the Alzheimer’s Society and is about learning more about dementia and the small ways you can help, every action counts.   These are the 5 key messages of Dementia Friends:   1. Dementia is not a natural part of aging. 2. It is caused by diseases of the brain. 3. It’s not just about memory loss. 4. It’s possible to live well with dementia.   5. There is more to the person than the dementia.   There are a lot of things that can be done to improve the lives of people diagnosed with dementia. Some of the things our staff have learnt are:   ·          to speak more slowly ·          to use shorter, less complicated sentences (both in talking and writing) ...