Solicitors advice.

[Steve GS]

Is there any solicitors on here that deal with inheritance. Just need some good honest advice there is a joint solicitor involved who seems to be acting for the interest of one party. and also taken advice from an independent solicitor that's just cost us money and has not really worked for us. Just need to know what's the best direction to go down.

 

[cheshiremaserati]

I have been a joint Executor on a Will with a solicitor and seen some fun and games. I am also the Trustee on a Discretionary Will Trust and experienced first hand how the legal profession blur everything when there is a query and even when paying for advice give it in non-descript and non-committal language and/or jargon that leave me no wiser after parting with cash and very underwhelmed.

Whilst I am no lawyer I learnt a lot about inheritance planning, being an Executor on a Will and how to handle these responsibilities when a lawyer or solicitor is involevd jointly with me that I'm happy to share in a phone call. If this is something you'd like, send me a PM and I'll call you if it helps to share what I know.

 

[rotor-g]

A good accountant can often be more help than a solicitor. It does depend on the problems. I can recommend one if you PM me

 

[cheshiremaserati]

It is not clear if the enquiry is about inheritance tax calculation, planning for IHT in the future, or executorship/trustee duties with a co-executor who is a solicitor. Advice "on inheritance" is too wide and requires clarification that might be done via PM.

 

[safrane]

Recall the solicitors who handled my late grandmothers estate and her affairs whilst in a care home finally took 40% of her estate when she passed away.

Poor old dear had more money when she died than she had whilst well enough to enjoy in life. The two beneficiaries ended up with £9k each with the legal fees taking the remaining £14k

 

[cheshiremaserati]

Sadly, few people plan for IHT and its the beneficiaries that lose out on distribution. Many people simply don't understand the options open to them and their pros and cons. Care Home fees drink up much of a person's Estate because the threshold to qualify for Social care funding is so low that I don't know anybody who will ever qualify and if they did, I tell them its so poor, they'd want to pay for private care homes when they see the low funds social care pays these providers - so the providers cut the cloth accordingly and grandad or grandma have a humiliating end-of-life period.

 

[BennyD]

Well, that's very comforting.

 

[safrane]

Indeed...all my relatives passed away long ago. Sadly my mother being the first when I was 14 months old - when I turned 16 I was sent a cheque by her solicitor for £45.00...yep I came from a rather poor family.

The case above from my grandmother - most of her estate was compensation from the Japanese for her late husband, and because she had no home (Council house) and no savings, her war pension, benefits and state pension built up to the threshold as she was in no fit state to spend anything and then went into her account and then out again to the LA; but the threshold was more than she had in her life.

 

[daverichardson]

Sadly, few people plan for IHT and its the beneficiaries that lose out on distribution. Many people simply don't understand the options open to them and their pros and cons. Care Home fees drink up much of a person's Estate because the threshold to qualify for Social care funding is so low that I don't know anybody who will ever qualify and if they did, I tell them its so poor, they'd want to pay for private care homes when they see the low funds social care pays these providers - so the providers cut the cloth accordingly and grandad or grandma have a humiliating end-of-life period.

Yes
My family circs are in that area now. I have taken some measures already. Consulted a friendly solicitor. House is in trust with my sons as the guardians. Made a will, moved money around out of government clutches - all legal btw
On a broader note we as a society do not treat the elderly or infirm or both correctly and this should change but sadly I know it will not.
The moral is look after yourself and yours because no one else is going to.
I could go deeper but will leave it there - for now

 

[dem maser]

I deal with many people who talk to me about inheritance as they come into it and then invest it in property and from what i have understood its all about the accountant not solicitor

 

[CatmanV2]

Yes
My family circs are in that area now. I have taken some measures already. Consulted a friendly solicitor. House is in trust with my sons as the guardians. Made a will, moved money around out of government clutches - all legal btw

That seems to matter very little these days. If HMRC decide that's it's not in the spirit of things, tough ****.

Not suggesting at all that you may be in that situation, but just referencing the news today.
C

 

[daverichardson]

Thanks
I will investigate the news today

 

[CatmanV2]

Thanks
I will investigate the news today

4000 holes in Blackburn, Lancashire

Can't find it on the website.

Ahh, got it:
https://www.ft.com/content/786319e2-ae5a-11e6-a37c-f4a01f1b0fa1


C

 

[BennyD]

There are lots more than 4000 a-holes in Blackburn. Apart from the big hole that is Blackburn.

 

[MrPea]

Hmmm, I do agree that pre-empting inhertance things definitely requires a good accountant/financial adviser. I have learnt so much about this from my father, though I wouldn't be any good at passing on much of the advice.

If you're in need of decent legal council because you're unfortunately already having to deal with the estate of a late loved one, then I'm sorry to hear you've ended up in this position. We found, with a late relative, that we had to have a solicitor of our own get involved just to state fact to other parties dealing with the estate.

 

[D Walker]

Yes
My family circs are in that area now. I have taken some measures already. Consulted a friendly solicitor. House is in trust with my sons as the guardians. Made a will, moved money around out of government clutches - all legal btw
On a broader note we as a society do not treat the elderly or infirm or both correctly and this should change but sadly I know it will not.
The moral is look after yourself and yours because no one else is going to.
I could go deeper but will leave it there - for now

Not too get too maudlin but when I am in Morecambe during the week I quite often go for a walk on a night, on the way back to my digs I have to go past a few care homes, I can only describe it as I seeing so many people in a room who all look alone. If I have my faculties about me in my dotage I am not going in one of those places!!!!!!!

 

[daverichardson]

Too right mate

 

[Ebenezer]

When my Dad moved into warden controlled flats a few years ago he asked where he could park his bike. First of all they though he was talking about a push bike. When he informed them that it was of the motorised variety, they were rather surprised that an octagenarian was still haring round on a bike! They then showed him a garage of sorts - full of mobility scooters!
Needless to say he kept it parked ouside after that!
Eb

 

[daverichardson]

Apparently Panorama have uncovered another care home scandal

 

[BennyD]

Not too get too maudlin but when I am in Morecambe during the week I quite often go for a walk on a night, on the way back to my digs I have to go past a few care homes, I can only describe it as I seeing so many people in a room who all look alone. If I have my faculties about me in my dotage I am not going in one of those places!!!!!!!

The fact you bought a Maserati and kept it is an indication that your faculties are already f*cked!