Previous Posts

  • How Farmers Can Use Trusts and Agricultural Property Relief to Optimise Inheritance Tax Planning

    How Farmers Can Use Trusts and Agricultural Property Relief to Optimise Inheritance Tax Planning

    Inheritance Tax (IHT) planning is a crucial consideration for farming families looking to preserve generational wealth. With the availability of Nil Rate Bands (NRB), Agricultural Property Relief (APR), and strategic use of trusts, it’s possible to pass significant assets to children while minimising tax liabilities. This blog explores how couples can use trusts effectively, leveraging recent updates…

  • What Do You Need for Your Lasting Power of Attorney (LPA) Instruction Meeting?

    Creating a Lasting Power of Attorney (LPA) ensures your wishes are followed if you become unable to make decisions for yourself. To prepare for your LPA instruction meeting, please gather the following information and documents. 1. Personal Information 2. Attorneys and Replacement Attorneys 3. Certificate Provider 4. Health and Welfare LPA This LPA covers decisions…

  • What do you need for your will instruction meeting?

    To help you prepare for your will instruction meeting, here’s a list of information and documents to have ready. This ensures we can create a will tailored to your needs without delays. Personal Information: Offspring and Dependents: Executors and Trustees: Assets and Property: Gifts and Beneficiaries: Funeral Wishes and Organ Donation: Other Provisions: Legal and…

  • Judicious Encouragement and Protecting Inheritance from Divorce

    Judicious Encouragement and Protecting Inheritance from Divorce

    For clients creating wills, it’s common to leave assets first to a spouse and then to children in equal shares. Yet, when concerns arise about the risk of a child’s inheritance being exposed to a future divorce settlement, straightforward provisions may not offer the necessary protection. In such cases, families should consider advanced planning to…

  • What is Donatio Mortis Causa? Understanding ‘Death Bed Gifts’

    What is Donatio Mortis Causa? Understanding ‘Death Bed Gifts’

    In the realm of inheritance law, Donatio Mortis Causa (DMC) offers a fascinating mechanism for passing on assets. This type of gift is made in contemplation of imminent death, bridging the gap between gifts given during life and those left in a will. With the ability to revoke the gift if circumstances change, DMC allows…

  • Understanding Deputyship Applications and the Importance of Lasting Power of Attorney (LPA)

    Understanding Deputyship Applications and the Importance of Lasting Power of Attorney (LPA)

    Applying for Deputyship: What You Need to Know Deputyship is a legal mechanism that allows a person to manage the affairs of another who has lost mental capacity and did not appoint anyone through a Lasting Power of Attorney (LPA). This process is overseen by the Court of Protection and the Office of the Public…

  • Secure Your Business Future with a Business Will: Key Reasons and Benefits

    Secure Your Business Future with a Business Will: Key Reasons and Benefits

    As a business owner, you have invested substantial time, effort, and resources into building your company. However, one crucial aspect often overlooked is the need for a business will. At Conwy Wills and Trusts, we understand the significance of safeguarding your hard-earned legacy, and a business will is a fundamental tool in achieving this. Here’s…

  • You Think Your Next of Kin Have a Right to Make Medical Decisions for You? Think Again!

    You Think Your Next of Kin Have a Right to Make Medical Decisions for You? Think Again!

    In moments of medical crisis or incapacity, it’s a common misconception that close family members automatically have the authority to make critical healthcare decisions. However, under UK law, without a Lasting Power of Attorney (LPA), this is not the case. An LPA is essential for appointing someone you trust to make health and welfare decisions…

  • Navigating the Great Wealth Transfer

    Navigating the Great Wealth Transfer

    The next few decades will see the “Great Wealth Transfer” from Baby Boomers, holding over £5 trillion, to younger generations. Conwy Wills and Trusts offers tailored estate planning services to Baby Boomers, Generation X, and Millennials, emphasizing digital convenience, professional advice, and client education to ensure efficient wealth management and transfer.

  • The Importance of Vulnerable Person’s Trusts in Estate Planning

    The Importance of Vulnerable Person’s Trusts in Estate Planning

    The post outlines the importance of vulnerable persons trusts, also known as special needs trusts, for managing assets and protecting benefits for individuals with disabilities or vulnerabilities. These trusts safeguard public benefits, allow tailored financial management, provide legal and financial safeguards, ensure long-term care, offer flexibility, and provide tax advantages. Proper setup with professional advice…