Estate Preservation Program

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ESTATE PRESERVATION PROGRAMME

Ensuring that children and other rightful beneficiaries will inherit the wealth you have created, regardless of what the future may hold, is important. So is making sure that the value of the family home is protected from hostile creditors or unnecessary Inheritance Tax.

But without professional guidance, much of your hard-earned money might end up in the wrong hands or be lost completely!

If you should need Long Term Residential or Nursing Care, and your assets exceed £19,000 the NHS and Community Care Act 1990 allows for your home to be used by a Local Authority to pay for that Care. In some areas this can cost as much as £35,000 a year. To fund this, many thousands of people find that they have to sell their family home at the expense of their rightful heirs.

By giving your property or other assets to an Interest in Possession Trust, over which you have full control, you can comprehensively protect them from having to be sold to satisfy hostile creditors. This guarantees that you can securely live in your own home, or any other in replacement, no matter what the future may bring, whilst ensuring that your wealth passes intact without the need for Probate.

Furthermore, if you have assets, including the value of the family home, worth more than £250,000, your children and other rightful beneficiaries could face an unnecessary Inheritance Tax bill of up to £100,000. This can be avoided with a specially prepared Will. Moreover, if you should die with no Will at all, your possessions would be distributed according to strict legal rules, which would cause even greater difficulties for those closest to you.

The Law Society recommends that Enduring Powers of Attorney are drawn up as a matter of course. These powerful documents, which form an integral part of proper planning, provide a lifeline by appointing someone you trust to help you if, through sickness or accident, you cannot handle your own financial affairs.

All these issues can be addressed by proper planning. Whatever your marital status, if you own property and have assets, including the value of the family home, worth more than £250,000, Chancery Law Group's Estate Preservation Programme, which through comprehensive and lasting legal protection, underpins your current and future financial arrangements and may protect your business interests as well.

With widespread flooding, over 60,000 house fires and more than a million homes burgled each year, your important documents are very much at risk. Our Document Storage vault ensures that all your important paperwork is kept safe and readily available, and we will also write to your Executors, Attorneys and family members, as appropriate, to explain where your documents are kept and how they may be retrieved.

The Law Society, The Council for Licensed Conveyancers, The Society of Trust & Estate Practitioners and The Society of Will Writers variously regulate our Consultants, Staff and Associates. Your interests are protected by Comprehensive Professional Indemnity Insurance.

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