Jun/090
Think about your future
More and more people are considering what will happen once they lose mental capacity in old age. Once this is considered, most people know that without an agreement in place their financial and health matters are no longer in their hands.
Research shows that 3 times more people are now registering their Lasting Power of Attorneys; and also applying to the Court of Protection for finance or health and welfare decisions and concerns about a deputy or attorney.
The large volume of people taking steps to ensure their rights is due to the Mental Capacity Act being introduced, and people considering their future.
Jun/090
Eurotunnel in Debt
The operators of the Eurotunnel are in debt talks over the £6.2bn debt. It has applied to the Court of Protection for protection from creditors, and has also asked a French Court to freeze the debts to something can be resolved.
The courts have yet to come to a decision, but the Eurotunnel is still working as normal.
Jun/090
NHS in Trouble?
The NHS has long received negative press about care and continuing care responsibilities. There have been heated debates since the NHS started out, because there is no outline as to what social care is and what health care is.
Since the 2003 report there has been a clear outline on NHS continuing care, this being that there is a single set of criteria for an area and that some patients can appeal by way of writing to the SHA if they are struck off.
This new report is hoped to bring some form of peace treaty where the NHS and continuing care are concerned.
Jun/090
Continuing Healthcare
Research has shown that people in one area are more likely to get continuing healthcare than people in another area.
This is all about to change according to the Government. They are bringing in a new order that is to be unveiled in June that will “standardise decisions on who is eligible”
Continuing healthcare mainly applies to people in nursing homes so is unfair to allow one postcode more likely to receive healthcare than others, so this new order is set to improve healthcare nationwide and allow people a fairer service.
Jun/090
Government has over 65% Share of Lloyds
Lloyds have signed the new Government Protection Scheme, but they are not happy about it.
Lloyds have signed the agreement after losing £10.8bn when they bought HBOS. The move to take over HBOS was supported by the government but it later suffered a loss of £10.8bn that Lloyds had to take on themselves. This has forced Lloyds to sign up to the Asset Protection Scheme to protect them from ‘toxic loans’, but in turn this gives the Government over 65% share in the company.
The asset protection scheme has been designed to help the banking sector and give consumers more confidence within the market.
Jun/090
Government Asset Protection Scheme
The new Government Protection Scheme will insure banks against asset losses and they will therefore be able to commit more to lending.
RBS had currently signed and now Lloyds have signed up to the scheme which will see them lending around £28 billion.
However, the Government has said that although taxpayers will eventually get something back, they “do not plan on nationalising the banking sector”.
Jun/090
Private Client - A Summary
A private client is the dealings of legal affairs such as family law for an individual.
Jun/090
Probate Registry. What is it and what is its purpose?
It is best to leave the definition of probate to Her Majesty’s Courts Service to here goes…
When a person dies somebody has to deal with their estate (money property and possessions left) by collecting in all the money, paying any debts and distributing what is left to those people entitled to it. Probate is the court’s authority; given to a person or persons to administer a deceased person’s estate and the document issued by the Probate Service is called a Grant of Representation. This document is usually required by the asset holders as proof to show the correct person or persons have the Probate Service’s authority to administer a deceased person’s estate.
Is a grant needed in all cases?
No - It may not be necessary to obtain a grant:
Where a home is held in joint names and is passing by survivorship to the other joint owner.
Where a joint bank or building society account is held, production of a death certificate may be sufficient for the monies to be transferred to the joint holder.
Certain institutions may release monies without a grant being produced if the amount held by the deceased was small. Apply to the institution to see if they will release monies without a grant.
If the above circumstances do not apply or if the institutions concerned inform you that a grant of probate is, or letters of administration are, required you can choose to contact a solicitor who will arrange this for you.
Jun/090
Understanding the differences between Wills and Trusts
Wills and trusts are often confused but they’re really simple to understand if you remember a few simple facts:
A Will only goes into effect after death, while a Trust (or Living Trust as its sometimes known) comes into effect immediately.
Because a Will goes into effect after death, it does nothing to plan for mental disability, while a disability plan can be written right into a Revocable Living Trust.
Property passing under the terms of a Will goes through probate, while property passing under the terms of a Revocable Living Trust avoids probate.
If you are still having difficulty understanding the difference just remember the first point above - a Will can only go into effect after you die, while a Living Trust is just that, “living,” and so it goes into effect as soon as you sign the trust agreement and continues in effect if you become mentally incapacitated and also after you die.
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