If you don’t have a Will, the Government has written this one for you …

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Be worried, very worried…

 

To my Family
I hereby leave you all – months, possibly years of financial hardship and expense whilst you go to unnecessary efforts to sort out my affairs.

To my Spouse
I hereby leave you some – but maybe not all if everything I own.

To my Children
I hereby leave you the remainder of my estate and give you the authority to enforce the sale or any part of it – including the family home – to realise your inheritance.

To Social Services
If my children are orphaned I give you the authority and guardianship and the power to choose who shall look after them, including allocating them to foster patents.

To the Tax Man
I hereby leave you all the tax that I could have avoided and given the money instead to my family.

To my Bank and or Solicitor
I hereby authorise you to charge whatever you feel necessary to sort out the mess that I have left behind. I realise that this could make you one of the major beneficiaries of my estate.

To everyone else
I leave you nothing

Yours Shamefully
I’ll do it tomorrow

 



Be Smart Call 0161 771 2056 – If not for you, for your family!

http://www.FinanceNorthEPS.co.ukHelp@FinanceNorthEPS.co.uk


 

Effect of divorce on your will

If your marriage ends in Divorce your will is not void or invalid.

What happens is that any gift to your former spouse takes effect as if he or she had died on the date your decree became absolute.

That means the gift falls back into the residue for the benefit of the residuary beneficiaries. But, if you had left everything to your former spouse, then the effect is as if you had died intestate and the rules of intestacy once again decide how your estate is distributed.

Similarly, if by your will you had appointed your spouse as an executor or trustee, the will still takes effect as if he or she had died on the date the decree became absolute.

Even if you had appointed him or her as trustee of a trust for the benefit of the children of both of you, or as a guardian of a child or children, the trust fails. That might not be what you want – although you are divorced, you may still like your ex-husband or ex-wife to be responsible for any children’s trust fund.

So it is best to make a new will immediately after your divorce, especially if your spouse or civil partner was a beneficiary or a trustee.

Don’t delay update your Will as soon as possible.
You do not have to await for the decree absolute.

Call 0161 771 2056 today

Introducing a unique partnership that will grow your business

Most Financial Advisors, Accountants and other professional bodies work extremely hard providing their clients with the means to build up their wealth only to fall short at being able to provide the correct strategies to protect these same hard earned assets against attack from care costs, further taxation, future divorce or  separation and creditors and bankruptcy.

Working alongside Finance North Estate Planning Services, you will be able to provide your  clients with unique estate planning strategies which ensure that their hard earned assets are protected for future generations,  setting you head and shoulders above your    competitors.

We do not just offer death planning strategies, but also planning throughout the client’s lifetime. Areas of expertise include personal planning, Business Succession strategies, and Agricultural Planning.

Our estate planning solutions are tailor made to suit every set of personal circumstances and  every pocket.

Finance North Estate Planning Services in association with Countrywide Tax & Trust Corporation offer a range of products and services which are second to none. Many of the services offered are completely unique with strategies which are tailor made to suit the needs of the client and ensure that they benefit from a complete overview approach to their estate planning needs.

Finance North Estate Planning Services main principals are Mark Roberts and Jon O’Brien. Mark has been in the financial services sector for over 26 years and also Founder and CEO of Challenge Cancer UK a national charity.  Jon has been in the legal profession for over 22 years and specialises in Estate Planning and Asset Protection.

Countrywide Tax & Trust Corporation specialise in asset protection strategies and  unlike most Will Writing companies, it’s Directors and Principals are members of S.T.E.P. (The Society of Trust and Estate Practitioners).

As the news of our success spreads the business continues to grow and the demand for our products and services increases.

With so few people having even a basic Will in place let alone the correct Will and estate planning, the demand for our services is vast.

Your clients care very much about the wealth they have amassed over the years and will want to ensure that it is passed onto their loved ones and protected for generations to come.

We have a range of products and  services which are designed to do just that!

Whilst our range of products and services are second to none and our Trusts all have Q.C’s opinion, we ensure that our prices are extremely competitive providing real value for money and a new source of income for you.

This is an opportunity to create income streams that add real value to your business whilst enhancing your client relationships and also gaining valuable referrals.

If you would like more information please call 0161 771 2056.

www.FinanceNorthEPS.co.uk – help@FinanceNorthEPS.co.uk

Why a funeral plan is the right financial decision

It’s a fact funeral costs are going up every year, the average cost in 1997 was £1,230, now it’s just under £4,000 – an increase of over 225%, well above inflation.

funerl costs charts

Surely if you could freeze the cost of your funeral at todays prices you would? Well you can with SafeHands Funeral Plans.

Choosing a SafeHands funeral plan is the most affordable and effective means by which to protect yourself from rising funeral costs, they are the only pre-paid funeral company officially endorsed by the National Federation of Funeral Directors.

SafeHands offer a range of 5 different funeral plans to suit all tastes and budgets. With the exception of the Direct Cremation, all options can be tailored to suit particular preferences and added to at any time.

Flexible payment terms, including interest free options if you pay over 12 or 24 months are available starting from just £21.29 per month.

In the current period of low interest rates, many people now see the huge benefit in ‘investing’ capital into a pre-paid funeral plan instead of conventional savings accounts, given they’re a far more effective and robust means of budgeting for what is, alongside taxes, life’s only inevitable expense.

If you are unsure whether a funeral plan is the right option for you, speak to one of our advisers today on 0161 771 2056 for a no-obligation conversation about the benefits of a funeral plan and how you could achieve peace of mind.

Finance North Estate Planning Services
help@FinanceNorthEPS.co.uk

Please don’t let this happen to you!

 

Our office took a call this week from a young lady we shall call Jane who was after some advice.

Jane aged 29 and her Fiancé Jon aged 26 had been together for the last 4 years living in Jane’s flat, and had long been planning their wedding for September 2016, during which time they had been striving to save for a deposit for their dream ‘family home’ which they were due to move into sometime in April 2016.

Their plan was to get married, have a couple of children, and when Jon retires from the Armed Forces their dream home would be paid off. Sounds perfect, this is a typical lifetime plan that most of us dream of isn’t it?

UNFORTUNATELY

Jon died in January 2016, aged 26! He was fit & healthy, but sadly died of S.A.D.S. (Sudden Adult Death Syndrome) which is caused by a ‘ventricular arrhythmia‘ – a disturbance in the heart’s rhythm. It can strike at any age and affects those who are fit and athletic. It mainly affects young men – often when they are asleep.

If this wasn’t bad enough they had both recently exchanged contracts on their dream home with a purchase price of £550,000, utilising a mortgage of £450,000.

They had a life policy of £450,000 to cover the cost of the mortgage, but this wasn’t put into Trust.

They had not yet done their Will’s as they were waiting until they got married later this year.

Jon also had a Death in Service benefit from his employers.

As a result;

  • Jane has lost her Fiancé of 4 years.
  • The Death in Service has paid out…to John’s parents as they were his next of kin, and they’re keeping it as they’re looking to retire soon.
  • Jane is legally committed to buy the house.
  • Jon’s estate now exceeds the Nil Rate Band as the Life Policy wasn’t in trust and was paid direct into Jon’s estate.
  • Approximately £100,000 IHT bill due.
  • Jon’s parents won’t speak to Jane or take her calls.

This is a true story and highlights WHY you should have life policies placed into Trust, and the Will’s should be written irrespective of whether you’re married, have kids, or still in your 20’s!

Finance North Estate Planning Services
0161 771 2056 – Help@FinanceNorthEPS.co.uk

Free Will Review Service

Review (1)

Today’s fast and furious lifestyles that we seem to take as standard dictate changes to our personal circumstances frequently, so it makes sense to review your existing Will on a regular basis.

You should review your Will every 5 years and after any major change in your life, for example if the executor or guardian named in your Will dies, you have a new child or grandchild etc. Below are examples of some of the most important times when you should review your Will.

Have you had any life changing events such as :-

Divorce/Separated
Married
Birth of new child/grandchild
Changes in your financial situation
Retirement
Moved home

A Will Review can check that your existing Will protects you and your beneficiaries from :-

Inheritance Tax
Selling your home to pay for long term care costs
Divorce settlements
Creditors/Bankruptcy

How can I receive my free Will review? Simple Call 0161 771 2056 or email help@financenortheps.co.uk with the word “Review” in the header and state your name and contact number and we will call you straight back.

10 Benefits From Making a Will

Have you been thinking for a while about making wills but have never quite found the time to get around to it?

1. Children

If you die and don’t nominate guardians for your children who are under the age of 18 then the local Social Services and the Courts will do it for you.

2. Protect Your Spouse/Civil Partner

If you wish to ensure that your spouse receives what you actually want to leave to them and not have to rely on current government legislation – making wills documents your wishes.

 3. Unmarried Couples

It doesn’t matter how long you may have been living with your partner, in law nothing will automatically pass to them.

 4. Divorced?

How would you feel if your ex-spouse made a claim on your estate?

5. Separation

For those that have separated but not yet divorced – your spouse still has full entitlement on your estate!

6.  Pets

You may be concerned about who will look after your pets after you have gone. One solution is to nominate someone in your Will who you can trust to make sensible decisions for your animals. You may wish to consider a modest legacy to help cover the extra costs involved in caring for the animal and meeting food and vets bills.

7.  Life Interests

Life Interests are increasingly popular among people who have remarried. If you are in a second marriage, chances are that you will have children from the first who may not be happy with the idea of everything being left to your new partner. A Life Interest (particularly in the matrimonial home) is often a convenient way to provide a roof over the head of your spouse or partner and still protect the children’s inheritance in the long term, keeping everybody happy!

8.  Paying less Tax

Careful Will drafting can have a significant impact upon the level of inheritance tax which will be paid. The small cost of making a Will can represent excellent value when compared to the tax savings that can be made.

9. Avoiding Intestacy

If you die without leaving a Will, your estate will be distributed in accordance with a rigid set of rules known as the “Intestacy Rules”. The Intestacy Rules dictate how a deceased’s property and money will be divided. In most situations the rules will produce an outcome that is at odds with what the deceased would have wanted and can lead to dependants suffering unintended hardship or family disputes arising.

10.  Living Wills

If you are of unsound mind or unconscious and not able to make your wishes known to the medical profession they have no way of knowing what treatments – if any – that you may not want to receive. Making a living will removes that doubt.

0161 771 2056 / help@financenortheps.co.uk