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Warning: These articles were originally published as brief newspaper articles. The articles are not intended to be definitive advice on any particular set of circumstances. The authors and the firm of Nicholson Portnell accept no liability for any use of these articles. Specific legal advice should always be sought in all cases for any actual transactions or matters.
Topical Planning Tips - January 2009
Pamela Air, Alison Bragg & Sara Frost
Although the financial outlook may seem gloomy, there are a number of measures you can take at the moment to save tax and plan for the future.
Consider the following matters:-
• Do you need to revise your Will? If you have left specific items to members of your family, they may not be worth as much as you had thought. Do changes need to be made to treat everyone fairly?
• Have you been wondering whether to give assets to your children? This could both save Inheritance Tax in the long run and Capital Gains Tax now, if you make the gift whilst the value of the asset is low.
• Do you need to check your pension and life insurance arrangements? Making sure they are written in trust can save your estate a lot of Inheritance Tax.
• Do you need to make a Lasting Power of Attorney? This would ensure that your assets could still be accessed and dealt with quickly if something happened to you during your lifetime.
Nicholson Portnell have three very experienced solicitors who specialise in these matters.
Pamela Air is a member of the Law Society’s Probate Section, and Alison Bragg and Sara Frost are both members of the Society of Trust and Estate Practitioners.
If you would like advice on these or other related legal matters please contact any of the above named.
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