Bristol Wills & Estate Planning

Bristol Wills & Estate Planning I'm Graham Southorn of Bristol Wills and Estate Planning | Wills | Lasting Power of Attorney | Trusts
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Remember Gerry Anderson, creator of Thunderbirds and many other classic TV series? ITVX has just uploaded a new document...
04/12/2023

Remember Gerry Anderson, creator of Thunderbirds and many other classic TV series? ITVX has just uploaded a new documentary about his life that's well worth watching if you have a relative with dementia.

Gerry sadly lived with Alzheimer's for the last few years of his life, a fact I was unaware of before I watched this documentary. The last 25 minutes talk about his family's experiences of dealing with it.

It's poignant and frankly very hard to watch without welling up. But it's well worth it because his wife and son talk about spotting the initial signs of dementia, how they handled it and helped him, and ultimately the decision, later on, to put him into care.

Those initial signs included Gerry getting lost in familiar places, poor driving ability, and mistaking a TV remote for a phone. It's especially interesting to learn how Gerry reacted to his loved ones during this period.

It's worth watching this part of the programme if nothing else. The rest is a fascinating journey through his life and relationships (sadly there's not much about Thunderbirds and other shows - apparently they are covered in a separate documentary).

https://www.itv.com/watch/gerry-anderson-a-life-uncharted/10a2443/10a2443a0001

Did you watch the Martin Lewis Money Show Live on ITV last night? If so, what was the most important takeaway for you? W...
22/11/2023

Did you watch the Martin Lewis Money Show Live on ITV last night? If so, what was the most important takeaway for you? Was it Lasting Powers of Attorney? Martin described them as "more important for most adults of any age than anything else". The show covered what Martin called the "3Ds", the not-so-cheery topics of divorce, dementia and death (Wills). Guests included Victoria Lyons of Dementia UK, who explained how to have difficult conversations with elderly parents.

It's well worth watching - there's a link to the show on ITVX below.

The Martin Lewis Money Show Live, series 13 episode 4

https://www.itv.com/watch/the-martin-lewis-money-show-live/2a1827/2a1827a0150

Dementia UK

Do you have a Google account? If you do, I recommend you take a couple of minutes to look at the "legacy contact setting...
18/05/2023

Do you have a Google account? If you do, I recommend you take a couple of minutes to look at the "legacy contact settings". It means your loved ones will be able to access data after your death such as photos, which might be very precious to your family.

Even if you make a Will and name executors, they could have problems accessing your data. Google even say they'll only provide it in certain circumstances. Much easier to use Google's own feature, which you can do right now.

I've written a step-by-step guide on my blog. It's the second in my series on "digital legacy". I'm going to revisit Facebook and I'll shortly be covering Apple accounts. If you can think of any other services you'd like me to cover, let me know.

https://bristolwills.com/articles/how-to-set-google-legacy-contact/

You should never give your house away to your children to avoid inheritance tax, and this dispute in court shows exactly...
07/03/2023

You should never give your house away to your children to avoid inheritance tax, and this dispute in court shows exactly why.

It's a cautionary tale. The even bigger irony is that it wouldn't even have avoided inheritance tax unless the mother pays a full market rent to the daughter for the rest of her life. (It doesn't mention whether she does or doesn't in the article.)

If you would like to discuss ways of legally and safely avoiding inheritance tax on property, DM me and we'll have a quick chat on the phone.

A pensioner, 82, who signed over her Earlsfield home to her daughter 'for inheritance tax reasons' is now fighting in court against being kicked out by her after a bitter family feud.

If appropriate, I'll mention Trusts to clients who ask me to write a Will. Not surprisingly, it's hard to get your head ...
07/09/2022

If appropriate, I'll mention Trusts to clients who ask me to write a Will. Not surprisingly, it's hard to get your head around them if you've never heard about them before and don't know what they're for. This post is a good summary of the benefits.

Might it be a good idea for you to set up a trust, as well as having a will?



Perhaps!

It really depends on what your concerns are and what you want to achieve.

A trust is a way to give assets (money, investments, property) to be looked after by someone else, trustees. You’re no longer considered as the named owner of those assets - instead, the trustees are.



You can be a trustee, along with other trusted people, and set preferences about who exactly can benefit from it and when.


Trusts can be useful for different purposes; they vary in complexity and they’re taxed differently too.
Example situations in which a lifetime trust could help…

🏠 if you have a rental property, as a landlord, a trust will help reduce your inheritance tax bill.

⏳ if you’re concerned about your children inheriting at a bad time, say if they’re going through divorce or on means-tested benefits.

🧑🏻‍🦽 if a vulnerable person is the person to benefit, and you want to ensure they’d be looked after throughout their life.


Another key advantage is that a trust makes it less likely for any challenge on your assets to succeed.
So the legacy is protected against people say, those who you want to exclude from benefiting such as an ex or a disowned child.

Ask for a callback from a Maplebrook Wills Limited legal advisor who can explain the options to choose from.


Took a break from Will writing today with a walk in a beautiful bluebell wood near Bristol. The very best legacy is the ...
30/04/2022

Took a break from Will writing today with a walk in a beautiful bluebell wood near Bristol. The very best legacy is the freedom and health to enjoy the beauty of nature.

"Why can't I just change my house to the kids' names?" I get this question quite a lot.Short answer: It's a terrible ide...
21/04/2022

"Why can't I just change my house to the kids' names?" I get this question quite a lot.
Short answer: It's a terrible idea.
Longer answer: read the article below by Jackie Annett, who spoke to me for the Express.

https://lnkd.in/eYX3F9hU

A WILL writer has outlined why he believes Britons should not give their house to children before they die.

I am happy to help  by taking a look over your exsiting Will, or reviewing your current arrangements within a Trust, for...
02/03/2022

I am happy to help by taking a look over your exsiting Will, or reviewing your current arrangements within a Trust, for example.

In particular, this applies if your Will was written before 2007. At that time, Inheritance Tax rules changed, so steps that may have been taken before then – including a solution known as a Nil Rate Band Trust – could no longer provide adequate protection.
Having one of these in your Will could now cause problems for the person inheriting, when the first partner in a relationship passes away.

I can let you know if you have a Nil Rate Band Trust, and if you'd be better placed with an alternative solution. Just ask me to review your Will for free – I can do this over email.
Please reach out if you have any questions, on 0117 440 1230.

Perhaps you haven't (yet) created your Will?
Perhaps your circumstances have changed since you made it; a marriage, or a divorce?
A new baby perhaps?

We're able to check that your existing Will is still fit for purpose, and advise on a potential re-write (only if amends are needed!)
Or of course, help you finally tick this essential bit of paperwork off your to-do list.

If you've got your Will and taken that weight off your shoulders, let us know in the comments - what inspired you to make sure yours was done, and of course, up to the job!?

NEW! FREE GUIDE FOR 2022. Why should you make a Will? Find out by downloading the free guide, "10 reasons your family wi...
15/02/2022

NEW! FREE GUIDE FOR 2022. Why should you make a Will? Find out by downloading the free guide, "10 reasons your family will thank you for making a Will", from our website. Download from https://bristolwills.com

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Change your life today ‒ act without delay

It’s easy to make excuses not to write a will. It’s even easier to make wrong assumptions about what will happen to your assets or loved ones when you’re no longer around. Sadly, some people put off thinking about it until it’s too late.

That’s where I come in. I aim to make writing a will as simple as possible by providing a professional, friendly service. As a legacy planner with Maplebrook Wills, I provide accurate and up-to-date legal information and see trust as vital to building good working relationships with clients.

I’ve lived in Bristol and Bath for over 20 years – currently I live with my wife in Totterdown in South Bristol. I see clients across the city and beyond, visiting Bedminster, Keynsham, Filton, Stoke Gifford, Longwell Green, Emersons Green, Redland, Clifton, Westbury-on-Trym and Bath.

I’m dedicated to making sure that your wishes will be carried out when the time comes, giving you peace of mind. I’ll help you plan what happens to your assets – both before and after death – to protect them for the benefit of your loved ones.