When making a Power of Attorney there are many considerations to consider, including choosing someone you trust to carry out your wishes and conduct your affairs.

Abrdn have surveyed 2,000 of Brits and the results show that instead of retiring, many of us are considering part-time work with two-thirds (66%) planning to remain in some form of employment in 2022 compared to 56% in 2021 and 34% in 2020.

The Financial Times has reported that as many of 1 million trusts in the UK could be caught by a new requirement to register trusts with HMRC.  Failure not to register could result in the risk of fines and potentially difficulties accessing professional advice.

The OPG is expected to update its LP12 guidance note to confirm that attorneys will not require specific wording in order to instruct discretionary fund managers.

One of the main roles of a personal representative’s role is to identify all the assets and liabilities in the estate.  

When a loved one dies, it will be distressing to learn that their Will did not sufficiently provide for you. This may be because of the size of the estate, the gift, or whether or not the person died without a Will.  There are often complicated circumstances.

STEP has reported that the Government has published more details of its proposed reforms to the charging system of adult social care in England, including a lifetime cap on the charges for personal care.

A recent poll conducted by financial advisors Killik & Co has shown that many people do not understand the rules of Inheritance Tax.

HMRC have identified potential errors regarding the declaration of residential property disposals for Capital Gains Tax (CGT) purposes when completing self-assessment tax returns for 2019/20.

In Competition and Markets Authority v Care UK Health & Social Holdings Ltd and another [2021] EWHC 2088 (Ch), the High Court held that an admission fee for new residents of care homes was not unfair, and that the care homes were neither misleading nor aggressive in relation to it.

Many people find the prospect of paying for care rather daunting, especially as they continue to increase. If you have care needs and are considering putting care in place, or moving into a care home, you may be wondering whether there is any way to avoid paying the fees yourself so that they are met by the local authority. 

Nobody likes to think about a time when they are no longer around so talking to loved ones about what you would like to happen after you pass away may seem morbid or unnecessary. However, talking about financial and practical matters can help put your mind at ease and make things much easier for those closest to you when the inevitable comes.