Keeping assets in the family proves a popular seminar theme

  • Posted

Posted 28/11/2013

Almost every adult ought to have a Will and a Lasting Power of Attorney (LPA), but many people fail to make or update these documents … and then sometimes it is too late. 

Ashtons Legal hosted a free seminar for 50 clients and potential clients at the Bedford Lodge Hotel in Newmarket yesterday with a view to encouraging people to take action rather than remain apathetic.  The format was case studies of family scenarios, showing how proper planning could ensure that the right family members would benefit and the Inland Revenue would not if someone suddenly died unexpectedly.  Anecdotes were also given in relation to real clients. One of these used a carefully drafted Will made after she was diagnosed with a terminal illness to ensure that her serial philanderer husband did not receive anything. 

In another case an opportunity was missed as a man in his twenties who had fallen out with his parents died without a Will (intestate) but they inherited his assets because he had no wife or children. Moving on from LPAs and Wills, the case studies looked at scenarios where people had children who were divorcing, marrying or co-habiting and the ways in which Trusts can be used to safeguard family money and the role that Living Together, Pre-Nuptial or Post-Nuptial Agreements can play.  Relevant insurance and investment issues were also addressed with input from Ashtons Legal Financial Planning LLP. 
The audience used the Q&A session at the end to find out more about subjects as diverse as choosing their Attorneys, the use of Deeds of Variation and Capital Gains Tax and Inheritance Tax Planning in respect of buy-to-let properties. The seminar will be repeated in Norwich and Ipswich in early 2014; anyone interested in attending should contact Toby Whittacker-Cook on or 01603 703094.


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