Private Client Issues - December 2017
Welcome to this month's edition of Private Client Issues, Blake Morgan's monthly round-up of the topics you may find of interest.
Autumn Budget 2017 - what does this mean for private clients?
Without question, the 2017 Budget had a clear emphasis on assisting private individuals and business owners in coping with the ever increasing costs of living, home prices and running businesses. Blake Morgan looks at what we have learnt and the key areas affecting private clients.
What the 2017 Budget didn't say…
Compared to recent years, some have described the 2017 Budget as relatively benign in terms of the impact it will have on most households. But sometimes it is the unsaid that is more telling. Blake Morgan looks at what might lie ahead in 2018.
SDLT surcharge - 1 year to go before the expiry of the transitional period
Many house buyers have struggled to get to grips with the 3% surcharge to stamp duty land tax on additional homes since it was introduced in April 2016. It's just over twelve months to go until the transitional provisions expire for purchases in England after 26 November 2018. Don't get caught out, buyers in some situations will need to complete their purchase by this date if they are to escape the 3% surcharge. Blake Morgan looks at examples of those who will be affected by the ending of the transitional period
Can I protect my home from care home fees?
The recent Channel 4 Dispatches programme "How to avoid the Dementia Tax" explored the political hot potato that is the provision of social care. Blake Morgan reflects on the increasing number of elderly people being forced to sell their homes to pay for care fees. With the number of 85 year olds set to double by 2030, this is a situation that is only going to get more critical.
Judge orders surrogate mother to hand child over to its intended same sex parents
A recent surrogacy case where the Judge ordered the surrogate mother to hand the child over to its intended same sex parents following the relationship between the parties breaking down, serves as a reminder of the potential problems of entering into a surrogacy arrangement. Blake Morgan looks at this case in more detail.
“I Do” x 2 – succession planning on second marriages
In October, the Office for National Statistics reported that last year’s UK divorce rate increased from that on the previous year and it's safe to say that a healthy proportion of divorcees are entering into subsequent marriages. But before or after certain big life events such as re-marriage or divorce, it is important to review your Will to ensure it is still going to take effect in the way you had intended. Blake Morgan looks at the consequences of re-marriage on your Will.
If you are impacted by any of the above topics or you would like further information on how we can help you, please contact your usual Blake Morgan adviser.
We would like to send you our warmest wishes for the festive season along with a happy and prosperous New Year from all at Blake Morgan. Being the season of giving, throughout 2017 and in 2018 each of our offices pledge to support the following charities: