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    December 13, 2020
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PROMOTION drahed or oun-of dane Will can lead so unnecesary taesbeing padand ce disputes, uncertalnty and ansety hat coud otherwise heve been aided There are elta that can help minimise inheritance tas (T which ocherwise charged at 4o. Some odthese elleh cat enly be property laimed if the Will structued i he appropriate way. Similary. an ppropriately worded wlcan belp o peotrct asseta from being dinipated n kng erm care costs and in the case of wecond marriag m that the ppriate pepeninof the estate ends up with the appropriane branch of he family Ifyour Willia me than theee year dyou shoudd eview LASTING POWERS OF ATTORNEY (LPASI These enable you to appoint family members a look after your affais If you were to become incapable of an Newcombena parmer n the priate clent teamprers Bcowns Etr oice privte centaters Heviindvs ard tes onarange of tax and lega . and also as clerts on orobate maters managing yourewn aairs either dor to a long term condition uch a make falluse of the allowances that Time for New Year's Resolutions Acting now to realie gaina that woult be suhject cor ae curent lower rates mighe well peve beneteial There are two tpes of L neo you can reduce the IHTaby on the ithe long erm particularty as neof deal with your financial uffaine the balance of your estate. For eangde, er other recommendations of the OTS ocher te deal with your heahth and his mightinvote making gifs of that what is knowe sthe death Aleheimerer dementia or the reuk atevailable. Once that has been ofatemporary illeorcident. done, there are variou wasin which well-being kis advisable no put both as so children or grandchidoen. in place whilt you are healhy and ta general the value ola gih made able n da sa. The proces of preparing wichin seven years of yur deah will and regiatering them with the Offce emin partofthe value that will of the Pu Guardian (OPG)i uplat" kor CGT purpone in abotihed. A present. CGT is nor payabbe on deah, sa when someone dien the Inceae in the vale of asesthat they hae purchased during their liletime lengthy, presently taking around ve making gifs sooner rather than later not subject to CGT (becase lT pyable on death)and the asses can be paed on to beneticiaries who e whe could otherwise aflerd o pa deemedsoinherithemar the value an value on ane peevented from doing the date of death. IHowever, ifhe OTS so becene of concernaovee ies proponals are imglemented this would beaed en your death. Therele lan Newcombe, a partner at leading South West law firm, Stephens Scown LLP, suggests some measures we should be putting in place to protect our families from the worst effects of coronavirus montha ing soneather than advie later idvinable LIPAs are a lerm of inarance Many panenti and grandparents They protect your family from the cots and uncetaisty that would ocherwise arine if poua were sa loue your sochan the posbiliny that the child he timeof yearwhen weall orviw the last 12monthe and make have to addrea the cost. Whilut the oftheir ecommendationa will be plans and resolutikons fer the coming Geversment will borew vast sema inglemented somer er dhanlater. solmgr be the ca. Therete, we wod recommend you make thin year's umber one resolution tde realisation thar we are all going to eemaikely that at least some Protection to be appointed an depues the willbe lost. There are ways te ke lepal advice ohelp you ake the protect againan thi ing Inother cases, to fundagiha ser need o be sold or given y erigperinga CGT liabiliy. la the light ofthe Os proposals than CGTallewances should be signiticantly redaced and that the matn of Ct should be of money to cover scme of the cont, Iyear. This in perhapenmoe important this yeat. we learn oe the rest, and inderd the cont of the RESOLUTIONS wich COVID-19 and the devuntating borrowing will utimanely huve no be effecs the virehas haden many people's live and he cony The Government's policies to reduce TAX RISES ON THE NEAR the sperad of the virus have come at HORIZON? agreat financial cone to individaal The Oflce of Tax Simplfication businesses and e the goeenment (OTS) hae ecenly isndaepon fhings to lookat ell. The welcome aval vaccines mean that perhaps we can could raise addinonal evenue from start looking atlile oturning to some Capital Gains Tax OG), Whie kemof normality, bwih that comes afarther OTS report isaatet. no deal with your attain. Wh tha ppointment come on golng coes neceary epa to pootect your family ndthe weahh that you have Perhapsa New Vrer un for al should be to reviee ur aflairs and fees that are roldedif LPAare fended fmation in place andensure that we have put in place the appropriate meresprotect our lamilies trom the war eflects of coronavitus. Here is ashort checklie Stephens Scown IHT PLANNING tyourestne is above the thieold which IT is payable, then the balance willbe taedat 4o. In oe inced from theie present levels. ighlighting hew the Government circumatances, the threahold may be whichan ekwa ooran high For more omaton plese cal 01392 210700. eral solicitorse stephens-scownco.ak or vist www.stephens-scown.co.uk WILLS skow as E.000er ercople a theyaielinewih e The importance of having an up-to-date wicannetbe oveated. Apooly axpayer's income taxraten (which | mey be an highas 4% or Your Wneeds tobe wordedo PROMOTION drahed or oun-of dane Will can lead so unnecesary taesbeing padand ce disputes, uncertalnty and ansety hat coud otherwise heve been aided There are elta that can help minimise inheritance tas (T which ocherwise charged at 4o. Some odthese elleh cat enly be property laimed if the Will structued i he appropriate way. Similary. an ppropriately worded wlcan belp o peotrct asseta from being dinipated n kng erm care costs and in the case of wecond marriag m that the ppriate pepeninof the estate ends up with the appropriane branch of he family Ifyour Willia me than theee year dyou shoudd eview LASTING POWERS OF ATTORNEY (LPASI These enable you to appoint family members a look after your affais If you were to become incapable of an Newcombena parmer n the priate clent teamprers Bcowns Etr oice privte centaters Heviindvs ard tes onarange of tax and lega . and also as clerts on orobate maters managing yourewn aairs either dor to a long term condition uch a make falluse of the allowances that Time for New Year's Resolutions Acting now to realie gaina that woult be suhject cor ae curent lower rates mighe well peve beneteial There are two tpes of L neo you can reduce the IHTaby on the ithe long erm particularty as neof deal with your financial uffaine the balance of your estate. For eangde, er other recommendations of the OTS ocher te deal with your heahth and his mightinvote making gifs of that what is knowe sthe death Aleheimerer dementia or the reuk atevailable. Once that has been ofatemporary illeorcident. done, there are variou wasin which well-being kis advisable no put both as so children or grandchidoen. in place whilt you are healhy and ta general the value ola gih made able n da sa. The proces of preparing wichin seven years of yur deah will and regiatering them with the Offce emin partofthe value that will of the Pu Guardian (OPG)i uplat" kor CGT purpone in abotihed. A present. CGT is nor payabbe on deah, sa when someone dien the Inceae in the vale of asesthat they hae purchased during their liletime lengthy, presently taking around ve making gifs sooner rather than later not subject to CGT (becase lT pyable on death)and the asses can be paed on to beneticiaries who e whe could otherwise aflerd o pa deemedsoinherithemar the value an value on ane peevented from doing the date of death. IHowever, ifhe OTS so becene of concernaovee ies proponals are imglemented this would beaed en your death. Therele lan Newcombe, a partner at leading South West law firm, Stephens Scown LLP, suggests some measures we should be putting in place to protect our families from the worst effects of coronavirus montha ing soneather than advie later idvinable LIPAs are a lerm of inarance Many panenti and grandparents They protect your family from the cots and uncetaisty that would ocherwise arine if poua were sa loue your sochan the posbiliny that the child he timeof yearwhen weall orviw the last 12monthe and make have to addrea the cost. Whilut the oftheir ecommendationa will be plans and resolutikons fer the coming Geversment will borew vast sema inglemented somer er dhanlater. solmgr be the ca. Therete, we wod recommend you make thin year's umber one resolution tde realisation thar we are all going to eemaikely that at least some Protection to be appointed an depues the willbe lost. There are ways te ke lepal advice ohelp you ake the protect againan thi ing Inother cases, to fundagiha ser need o be sold or given y erigperinga CGT liabiliy. la the light ofthe Os proposals than CGTallewances should be signiticantly redaced and that the matn of Ct should be of money to cover scme of the cont, Iyear. This in perhapenmoe important this yeat. we learn oe the rest, and inderd the cont of the RESOLUTIONS wich COVID-19 and the devuntating borrowing will utimanely huve no be effecs the virehas haden many people's live and he cony The Government's policies to reduce TAX RISES ON THE NEAR the sperad of the virus have come at HORIZON? agreat financial cone to individaal The Oflce of Tax Simplfication businesses and e the goeenment (OTS) hae ecenly isndaepon fhings to lookat ell. The welcome aval vaccines mean that perhaps we can could raise addinonal evenue from start looking atlile oturning to some Capital Gains Tax OG), Whie kemof normality, bwih that comes afarther OTS report isaatet. no deal with your attain. Wh tha ppointment come on golng coes neceary epa to pootect your family ndthe weahh that you have Perhapsa New Vrer un for al should be to reviee ur aflairs and fees that are roldedif LPAare fended fmation in place andensure that we have put in place the appropriate meresprotect our lamilies trom the war eflects of coronavitus. Here is ashort checklie Stephens Scown IHT PLANNING tyourestne is above the thieold which IT is payable, then the balance willbe taedat 4o. In oe inced from theie present levels. ighlighting hew the Government circumatances, the threahold may be whichan ekwa ooran high For more omaton plese cal 01392 210700. eral solicitorse stephens-scownco.ak or vist www.stephens-scown.co.uk WILLS skow as E.000er ercople a theyaielinewih e The importance of having an up-to-date wicannetbe oveated. Apooly axpayer's income taxraten (which | mey be an highas 4% or Your Wneeds tobe wordedo