Peacefully的动态

Pro tip: If you're worried about your child's inheritance walking out the door or being misused by a significant other someday...it's time to get an estate plan in place. A properly structured trust can keep family money IN the family and protect it from misuse. Don't let your hard-earned legacy become someone else's shopping spree. Let's talk about smart ways to protect your children's inheritance—no family drama required.

Pro tip: If you're worried about your child's inheritance walking out the door or being misused by a significant other someday... it's time to get an estate plan in place. A properly structured trust can keep family money IN the family and protect it from misuse. Don't let your hard-earned legacy become someone else's shopping spree. Let's talk about smart ways to protect your children's inheritance—no family drama required.

Great article by Jennifer Good of Peacefully on supporting grieving members. Click below to read the article on CUInsight.com

Talking of the intestacy lottery, the ONS has helpfully issued new population data today for England and Wales. Cohabitees (who lose out completely under intestacy rules across the UK) attract this ONS insight: Opposite-sex cohabiting couple families in 2023 compared to a decade earlier comprised an additional 469,000 families, accounting for 42% of the total growth in families since 2013. Growth in same-sex cohabiting couple families added a further 48,000 families over that ten years. This means setting up single own life cover right to get to the intended person, whether by beneficiary nomination or trust, is more important than ever for those couples not getting married. Gregor Sked DipPFS, Vincent O'Connor, Ron Wheatcroft

The intestacy lottery just got a bit better in Scotland for spouses and civil partners.... but why risk it?? Guardian Financial Services and Royal London at least make it easy to shield life cover from this, by making payment to beneficiaries contractual. Fun fact: Intestacy rules don't pass everything to spouse (or civil partner). And different rules apply across the UK. Eg In Scotland a ￡200k life policy not bypassing probate ("confirmation") for a death occurring yesterday or before, is split between spouse and children OR parents+/or siblings of the deceased. If there are children, the spouse would get to keep only ￡100k. If no children, they'd get ￡144,500, with ￡55.5k to the in-laws. Yikes! What about the mortgage the policy was meant to clear????? But from today, for deaths leaving no children, at least the spouse won't lose out on any of that money to the in-laws any more. Learn more at: https://lnkd.in/eReSfYQZ

Worried your child might gamble away their inheritance? Here's how a trust can help. ? Diva Shah TEP writes for MailOnline where she provides an insight on protecting your assets for the next generation. A discretionary trust lets you leave money to your loved ones, but trustees you choose control how and when they receive it. This can be helpful if you're concerned about beneficiaries mismanaging funds due to gambling or other issues. ? Read the article in full here: https://lnkd.in/g4Wttbfg ? #KingsleyNapley #PrivateClient #PrivateClientLaw #Assets #Trusts #NextGen #InheritancePlanning #FinancialPlanning #EstatePlanning

Lessons from the Bank of Mum & Dad. Buying a home in New Zealand remains tough, and many young people rely on financial help from parents to get on the property ladder. While it's a generous way to help secure your children's future, there are potential pitfalls. Here’s a story of John, Pam, and their daughter Stacey: John and Pam contributed $150,000 to help Stacey and her husband Matt purchase their first home. Later, when the couple separated, they sold the house for a profit. Stacey’s parents expected the money to be repaid or prioritised during the settlement. However, without legal guidance, the funds were considered "intermingled," giving Matt the right to claim half. The key takeaway from this scenario is that you should always seek legal advice before gifting or lending money for a home purchase. You can structure it as a loan or safeguard the gift with legal agreements to protect your investment. Please contact our Property Team if you need advice on family financial support. #DavenportsLaw #FamilyAdvice #PropertyLaw #Lawyers #PropertyLadder #LegalAdvice #PeaceOfMind #NorthShoreLawyers

? A worrying statistic | "Only 31% of people who have divorced have signed Clean Break Orders, leaving two-thirds (69%) exposed to future financial claims from their ex. Also, one in 10 people who have divorced (897,000 – 11%) have either delayed or forgotten to remove their ex-partner from their will, risking unintended inheritance disputes. Many people have also forgotten to remove their former spouse as the beneficiary to their pension (11%) or life insurance (10%)". 280k recent divorces delayed due to money struggles, research reveals - Today's Family Lawyer (todaysfamilylawyer.co.uk) Please contact TEES family team for advice | offices in Chelmsford, Brentwood, Bishop's Stortford, Cambridge, Royston and Saffron Walden.

Early inheritances and gifts towards adult children are increasingly common as the generational wealth gap widens over time. Can such inheritances and gifts be protected in the event of a separation? The options for protecting gifts/early inheritances are limited and depend upon a family’s specific circumstances. Unless you are willing for your gift or early inheritance to be included in a property settlement make sure to speak to a lawyer before any movement of money. To find out more read our latest blog… https://bit.ly/4eyxwHD . . . #southernwaterslegal #inheritance #familylaw

Making a Will when you don't have children: It seems obvious to many that we build our wealth and save hard to pay off our mortgages to be able to leave our estates to our children. These decisions can already be quite difficult for some as relationships with children are not always straightforward, however, for people who do not have any children, these decisions have their own difficulties. In this blog Kim Boylett (FILEX) outlines the importance of making a will even if you don't have children, as well as the things to consider. https://lnkd.in/dU9MAhxv #MakeAWill #LifePlanning #Family #LegalServices #LawFirm