Case Studies

Lasting Power of Attorney

A gentleman had made an Enduring Power of Attorney and had heard about a bad experience where his friend’s mother had received life sustaining treatment by the hospital when it was widely known that her wishes would have been to refuse the treatment. The client is creating and registering a Lasting Power of Attorney for health & welfare in order for his son to have the authority to make such decisions on his behalf if, in the future, he is unable to make his own decisions.

Discretionary trust

A widow brought in her late husband’s Will which incorporates a nil rate band discretionary trust with residue to spouse. We discussed the advantages and disadvantages of implementing the trust for the foreseeable future or winding up the trust within two years to simplify the estate. The client took time to discuss the options with her co-trustees and her family to come to the right decision for those involved.

Lasting Power of Attorney

A nephew called to arrange for us to visit a Horsham care home to take instructions for his Uncle to create and register a Lasting Power of Attorney for property & financial affairs and register it at Court. His Uncle was happy to get this sorted as the bank had frozen his account on the information that he had moved to a care home. He was relieved that within 9 weeks his nephew was able to settle the care home fees and begin marketing his flat for sale, with his consent.

Residential Property

A married couple own their residential property in the husband’s sole name. We discussed the advantages and disadvantages of changing this when contemplating estate planning. They went away and discussed the situation with their children and subsequently gave instructions on their Wills to complement their decision about leaving the property in his sole name.

Inheritance

A son inherited the whole of his late father’s estate when his father passed away 18 months ago. The son has one child and she has now turned 18 and is looking for a property of her own to complement her new job. The son has decided to vary some of his late father’s inheritance so that she has money for a deposit. The son’s estate is currently over £325,000 and by making a variation instead of a straightforward gift, it means that if he passes away in the next 7 years, the variation will not form part of his inheritance taxable estate. In this example this will potentially save in excess of £20,000.

Discretionary Trust

We have been asked to prepare a discretionary trust for a client who does not want to leave their son his inheritance outright. Instead, the client’s daughter will act as co-trustee so that together her children can manage his inheritance in his best interests. A trust is always future-proofed and in this instance, if the son dies leaving children of his own, then they would be entitled to the remaining trust monies.

Power of Attorney

A client’s firm of solicitors has moved out of the area. We have been asked to store the original documents free of charge. The client has taken advantage of our half an hour’s free advice and she is now reviewing her Will which is 10 years old and making a new Lasting Power of Attorney for health and welfare. This was not available to her when she made her Enduring Power of Attorney for property & financial affairs back in 2007.