Asset protection

09 January 2012



While it is understandable that many people do not want to think about their own mortality or that they may suffer from some form of dementia and be unable to make decisions for themselves, in reality they are creating problems for their nearest and dearest.

Planning for the future will not only give you peace of mind, it will also help your relatives if the worst happens.

At B P Collins we can advise you on how to best plan for the future through:

• Wills and Inheritance tax planning and mitigation

• Setting up trusts to benefit your children and/or grandchildren

• Using your exemptions to benefit your family without creating a gift for inheritance tax purposes

• Ensuring that you have protection in place in case you lose mental capacity

• Ringfencing assets for future generations

Remember, If the deceased died without writing a will, you may not benefit the people you wish to and in the most extreme cases, all your assets could go to the Crown and if you lose capacity without appointing an attorney then the Courts will make the decision as to who should look after your financial affairs.

For more details, please contact our elderly client specialist Paul Lowery on 01753 279059, complete the complete the online enquiry form or email elderlaw@bpcollins.co.uk.