What is a Lasting Power of Attorney?

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A Lasting Power or Attorney (LPA), is a legal document in which you can appoint one or more persons to act on your behalf (an Attorney). They continue to be legally enforceable should you lose mental capacity.

There are TWO types of LPAs which you can apply for:

(1) Health and Welfare – this allows you to appoint people to make decisions about anything that relates to your personal welfare.

(2) Property and Financial Affairs – this allows you to appoint people to make decisions about your property and finances.

When making an application to obtain one of the LPAs above, you should have regard to the following:

(1) Who can / should you appoint as an Attorney?

(2) Should you appoint a replacement Attorney?

(3) How should the Attorneys act?

(a) Jointly?
(b) Jointly and severally?

(4) Would you like to give your Attorneys any guidance?

Such an application for an LPA can highlight a range of questions and queries that you can and should get expert advice on.

We here at Passmores Solicitors are fully qualified to guide you through the process to ensure your needs and wishes are appropriately catered for.

Please feel free to contact our Miss Carli Evans on 01446 721 000 or ce@passmores.com for more information.

Stamp Duty Reforms

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From April the government is set to introduce new rules to increase the stamp duty liability for second home owners.

The new rules are set to apply to purchases for buy-to-let, holiday homes, or second properties. Only houseboats, caravans, homes under £40,000.00, and other limited transactions are exempt.

The details of the policy are set to be published in the 2016 Budget on 16 March 2016.

The consultation paper published in December has suggested that from April, landlords (second homes owners) will have to pay:

3% duty for the first £125,000.00

5% on the amount between £125,001-£250,000.00

8% between £250,001.00 – £925,000.00.

Watch this space for full details which will be published in the budget this spring.

Court of Protection

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Passmores are able to assist with a range of Court of Protection issues, including making an application for you to become a deputy on someone’s behalf who has lost mental capacity for both property and financial affairs and health and welfare.

We will be able to complete the application and to run it on your behalf from beginning to end, advising you every step of the way through this complex process.

We are also experts in emergency applications where an interim order can be obtained if a specific matter needs urgent attention.

If a dispute arises between deputies or between members of the family as far as an incapacitated person is concerned, we are able to assist you in this respect and to represent your interests.

Please contact our Miss Carli Evans on ce@passmores.com for more information.

Have YOU made a Will?

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There comes a time when everyone has to consider whether it’s time to make a Will.

You may have just had a child and wish to appoint a legal guardian in your Will, or, you may wish to benefit a friend or charity that has provided you with unwavering support. No matter the reason, there are countless benefits to having a Will stipulating your wishes on the distribution of your Estate.

Without a Will, your Estate will be distributed in accordance with the intestacy rules. These are a set of rules which deal with the way in which your estate will be distributed in accordance with the law, distributing it amongst your spouse, children, and other biological family members in a certain order.

There are some important factors that need to be noted if you do not have a Will, or if you are planning to rely upon the intestacy rules to distribute your Estate:

1. Your surviving spouse may not inherit the entirety of your Estate.
2. No provision is made for step-children.
3. No provision is made for co-habiting and unmarried couples.
4. Individuals who you would have otherwise wanted to exclude may benefit.
5. Should you have no living biological family members then the Estate is forfeited to the Crown.
6. The rules fail to deal with inheritance tax issues.
7. No provision is made for appointing legal guardians for any young children you may have.

By having a Will drafted by a specialist, you can rest assured knowing that your Estate will be distributed in accordance with your wishes. A Will provides a clear indication of your thoughts and feelings and can help safeguard your Estate against claims. It can also ensure that those closest to you, whether they be related to you or not, are the ones to benefit from your Estate.

We here at Passmores Solicitors have a number of legal experts waiting to draft a tailor made Will for you. We offer competitive prices and work with a number of charities who offer free Will writing services to certain qualifying individuals.

For more information, please do not hesitate to contact us on 01446 710 000 or email ce@passmores.com.

Help-to-Buy ISA

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The UK government has introduced a new scheme to assist first time buyers who are in the process of saving for a deposit.

If you are a first time buyer, you can save up to £200.00 per month towards your first home with a Help-to-Buy ISA.

When you are in the process of purchasing your first property, the government will boost your savings by 25%; meaning, for every £200.00 you save you will receive a £50.00 bonus (maximum government contribution: £3,000.00).

When you come to purchase a property using your Help-to-Buy ISA savings, you will need to instruct a Solicitor registered with the government scheme to act on your behalf. We here at Passmores are registered and ready to act on your behalf with the new Help-to Buy ISA scheme.

Please refer to the government web-site for more information on the scheme.

Contact Passmores today on 01446 721000 or cw@passmores.com for your conveyancing quotation.