Blogs & Resources

Don't let your assets become a battle ground. Write a will and prevent your loved ones from going crazy. Rest in peace, Prince 💜 #PrinceForever #EstatePlanning #WillsMatter"

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How do the 1 % stay super rich?

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Protect Your Wealth in the UK's Changing Financial Future

The UK, like many developed countries, is facing a demographic challenge with a growing proportion of older adults and a decreasing proportion of younger adults. This can put pressure on the country's social care services and health care services, as older adults tend to need those services more than younger adults. With a record number of people in the UK retiring in the next few years, the government will need to find more money to pay for care, social services and the NHS.

The largest group in the demographic bulge is the 50 plus group, and it's important to consider where the government will get the money from. With fewer 30 to 50 year olds and even fewer people below that age, the government cannot tax those who don't exist. This leaves only one place for them to find the money: the middle and lower classes.

If you're over the age of 50, it's time to start thinking about saving your assets and protecting them before any changes to the legal and tax regimes occur. The super rich have already put their plans in place and will not suffer the increasing taxes, so it's up to the middle and lower classes to carry the burden.

Here are three things you must do right now to preserve your wealth for you, your children and your grandchildren:

Put your property into a lifetime trust. Lifetime trusts have many benefits and can help protect your assets.

Arrange a lasting power of attorney so that your children or loved ones can look after your interests while you're still alive. This is an important step as you grow older and need someone to manage your finances.

Write a will. Over 53% of adults in the UK do not have a will, and if you die without one, your life's work will be distributed according to Britain's rules of intestacy. Investing in a basic will can ensure that your money goes to the people you care about.

In conclusion, the UK's demographic challenge and changing financial future will have an impact on the country's social care services and health care services. Protecting your assets and planning for the future is crucial to ensure that your wealth is preserved for you, your children and your grandchildren.
If you need help to protect your assets and a plan adapted to your specific situation. Be sure to book a call with me or my team here:
https://maplebrookwills.co.uk/

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What is a trust?

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Do I have to pay inheritance tax in the UK? #taxes #inheritancetax #estateplanning #assetprotection #marriage #willsandtrusts #trusts #familylaw #probate #attorney #lawyer #financialplanning #estateplanningattorney #powerofattorney #estateplan

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Demographics...and why you should care!

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