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Care Fee Planning

Care fee planning

Care fee planning is essential for anyone who lives in the UK. While many people avoid thinking about it, if someone lives to an old age, they are likely to have expenses for care which arise. Formal planning for this can help to avoid some of the stresses and financial strains that future care can bring.

With higher life spans and continuous changes in medicinal services, more of us are probably going to require some sort of care at some phase in our lifetimes. The normal cost of care in a UK private care home sector can range from £500 to £1000 per week, per person. Meeting these expenses is a test for anybody and can soon eat about at assets that have taken us a life-time to accumulate.

It’s essential to seek professional, care-fee planning advice so always choose a reputable advisor such as Guardian Legal of Huntingdon. Getting robust and impartial care fee planning advice is a must to all home-owners as homes can be taken to fund long term care costs.
A Trust product with Guardian Legal can be a very affect instrument, if implemented correctly, to assist in care fee planning however should not be used merely for this purpose.
Assets, including a home, can be effectively ring-fenced within a Guardian Legal Trust ensuring that your estate is properly protected, in the future, for loved ones inherit. Our trusts can effectively mitigate against tax, probate costs and unwanted estate claims.

 

Guardian Legal’s trusts are affordable, versatile and suit most estates, large or small. Without a Trust assets and homes can be unnecessarily exposed and vulnerable.

 

 

Guardian Legal Huntingdon

guardian-legal-huntingdonAs far as charming towns go, Huntingdon qualifies as it is not only beautiful, it is peaceful, quiet and when the time is right, bursts into life in ways that may surprise even its inhabitants. But, where is Huntingdon and what does it have to offer?

Introduction to Huntingdon

Huntingdon is a market town in Cambridgeshire in England. It is regarded as a small town as it is home to about 23,500 according to the 2011 census. That said, though, there is a lot that goes on in this market town.

Everyone who has been to Huntingdon knows that there is a wide selection of historic heritages, boutiques and national shops, riverside walks and fun activities to see and do when visiting which makes Huntingdon town the perfect place to visit when you need a break from the hustle and bustle of the city.

Historians record that Huntingdon was chartered by King John in 1205. At the time it was the country town of Huntingdonshire. Because this market-town is located at the River Great Ouse, it rapidly grew into a market town and later into a coaching town.

What Huntingdon has to offer

Huntingdon is a charming town as it offers all the comforts of home in the form of the Cromwell Museum, which is the only Cromwell-dedicated museum in Britain, beautiful churches and the lively markets which are heralded as leading to the birth of this town. The two markets to choose from are a traditional market and a farmers’ market. In addition, visitors and travellers will find adequate entertainment at various cafes, bars and restaurants that dot the town.
Places to stay, wine and dine
Some of the places that you can have a little fun while in Huntingdon include The Old Bridge Hotel and The George Hotel. For those who love walks and strolls, the pedestrianised shopping centres and the Historic Town Trail give you lots of places to see and visit.

The Huntingdon’s riverside park is another perfect place to unwind. You can choose between boating or just enjoying a picnic while watching the River Great Ouse which is the fourth longest river in England flow quietly nearby.

The Surrounding Area

While Huntingdon is a fun town all on its own, there are lots of other places surrounding this town that you have to visit. For starters, the
Huntingdon Racecourse is a very short distance from the town. It is directly off the A14 and is home to regular race meetings, and on occasion, it does open for family fun days.

Portholme, which is between Huntingdon and Godmanchester, boasts of having the largest lowland meadow in the country. It is perfect for those who cannot get enough of strolls and walks as it offers a peaceful environment for serene walks.

Houghton Mill is another tourist centre that you have to visit. It is a National Trust property and is home to one of the few remaining water mill located on the Great Ouse river. The Houghton Mill still grinds flour and is home to a nearby camping site that you can book for a romantic night of camping.

One last place that you can visit is the Grafham Water Centre. It is near Perry and it offers both land and water based fun activities. In addition, you can take walks here as well as hire a bike to ride in and around the reservoir.

Why Make a Will

Making a will is not mandatory but a lot of issues can be avoided by leaving one when you die. Your will informs everyone what happens to any remaining finances, property or possessions – in other word your ‘estate’. Here are a number of reasons why making a will can be very beneficial and make things a lot simpler for your loved ones.

Who InheritsIf you don’t create a will, the government will decide what happens to your estate and who will inherit what. It is unlikely that your assets will be divided according to your preference. Under the Law of Intestacy, your possessions will pass onto the Crown (the government) if you are unmarried and have no close family.

If you make a will, you will have control over who receives what and will be able to avoid arguments that might ensue if things are unclear after you pass.

Tax

If you do make a will then things such as Inheritance Tax will be reduced. This is possibly payable on any property and money that is left behind. Reducing the ultimate cost of things and making things easier.

Executors

Making a will means that you have the choice over who are your Executors. If you do not leave a will behind then your closest family members will need to apply for Letters of Administration. There may be a delay before they are able to deal with your Estate. Making things a lot slower and more complicated than they have to be.

Minors

If you leave any children behind that are under the age of 18, you can make a decision on who should be their guardian when you pass. If you do not write a will, the government will appoint a guardian for your children. Writing a will ensures that you avoid anyone you don’t want raising your children.

Peace of Mind

By creating a will, you are able to enjoy the rest of your life without the worry of the future of your estate or the fear that arguments may start due to confusion.

Making a will can benefit your family and avoid arguments, as well as ensuring minors are placed into the best possible care. It can also be less expensive to write a will and take much less time overall. Creative a will gives you the relief that you have made plans for the future.

Validity of Wills—foreign element

Distinction between movables and immovables

English law makes a distinction between movable and immovable assets; succession to movables is governed by the law of domicile (lex domicili) and succession to immovables is governed by the law of the country in which they are situate (lex situs). The distinction is between realty and personalty or real property and all other property.

Will contents

There are a number of matters that should be considered for inclusion in Wills that have a foreign element:

 

  • a declaration as to the testator’s domicile, which can be included but is perhaps better served by a supplementary document (regularly updated) kept with the Will chronicling the testator’s residence history and giving reasons as to why they claim a particular domicile
  • a declaration as to the law that is to govern the operation of the Will or an election in a manner consistent with Article 22 of EU Regulation No 650/2012 (for deaths on or after 17 August 2015)
  • the appointment of separate executors (resident in the appropriate jurisdiction) for foreign assets in the case of one worldwide Will, save that in civil jurisdictions the assets may bypass executors and vest directly in the heirs
  • the inclusion of a power to appoint agents in the local area to facilitate the administration of the estate and reduce time and costs incurred by the executors
  • the inclusion of the appropriate charging clause for professional executors
  • the inclusion of a revocation clause may not revoke foreign Wills or such Wills may not be revoked unless expressly referred to but if separate Wills for foreign assets are used, the draftsperson should ensure they must not revoke each other
  • a clause disinheriting a beneficiary who challenges the Will may be effective in some civil law jurisdictions