Tag: business

Can I Avoid Selling The Family Home To Pay For Long Term Care Fees?

By on 13th April 2016in Local Biz

With no prospect of a Government cap on long term care costs, and annual fees for care homes exceeding £30,000, having to sell the family home to pay for a place in a care home is a major worry for many older people.

But is it possible to protect the family home and other assets from the impact of long term care fees, asks Andrew Simpson, Lead Panel Solicitor with legal and financial planning specialist Ensure Inheritance.

Legal trusts, often known as Wealth Preservation Trusts, when used for estate planning purposes can have the useful side effect of protecting assets from the impact of long term care fees, but they cannot be used specifically to avoid care fees.

Many people do not realise that current legislation demands that anyone owning assets valued in excess of £23,250 is required to make a 100% contribution towards the cost of their care. However, anyone requiring care with assets worth less than £14,250 is not required to make any contribution from their capital.

The legislation also prevents people from deliberately moving their assets in order to avoid paying care fees. But it does not prevent anyone in relatively good health, who is not presently intending going into long term care, from estate planning and establishing a Wealth Preservation Trust.

By placing assets in a Wealth Preservation Trust, you are no longer (technically) the owner of the assets, but rather the principal beneficiary of the trust. So it can fully protect your assets for your children, provided the local authority cannot prove that at the time the trust was set up it was reasonably foreseeable you would enter long term care.

Using a Wealth Preservation Trust to plan your estate is a powerful means of achieving total control over what happens to your assets, who benefits from them, and who controls them.

Wealth Preservation Trusts can avoid claims on your estate after your death; reduce the time it takes for beneficiaries to receive their inheritance; protect your children against disinheritance; protect your assets from bankruptcy; protect your assets from divorce, as well as protecting your assets from the impact of long term care fees.

Setting up Wealth Preservation Trust is a job for a specialist solicitor who can establish the trust to meet your particular needs and future wishes, according to your unique set of financial circumstances.

Ensure Inheritance has produced a booklet which provides further information on Wealth Preservation Trusts. For a free copy, please contact Ensure Inheritance on tel. 0191 338 5143, via email at info@ensureinheritance.co.uk or via its website www.ensureinheritance.co.uk.

Based in Seaham in County Durham, Ensure Inheritance provides a range of legal and financial planning services which help protect financial assets to provide their clients and their loved ones with peace of mind. In addition to long term care planning and wealth preservation trusts, services include funeral planning and pre-payment plans, Wills and Estate planning, funeral planning, inheritance tax planning, powers of attorney, court of protection deputyships, and probate.

AYP Financial Planning: Divorce

By on 12th April 2016in Local Biz

It’s a fact of modern life that as many as 40% of all marriages in the UK end in divorce. The break-up can be a traumatic time for all concerned and brings with it the need to make financial arrangements that can have ramifications for years after the settlement is made.

There are no hard and fast rules governing how assets should be divided, although there is a broad starting point of 50 : 50. If the divorcing couple are unable to come to an agreement on the division of their financial assets, the court will decide how these should be apportioned between them, based on factors such as their age, earnings ability, property and investments and role in the relationship (e.g. breadwinner or primary carer). The needs of any children of the marriage are always considered paramount.

At AYP Financial Planning we specialise in providing advice on divorce and can offer sympathetic, patient and pragmatic support throughout the whole process. You will need help to decide on your future financial goals, review your mortgage, life insurance, savings and investment plans and you’ll need to remake your will. Post-divorce, reorganising your finances is an essential step in moving forward to a new life.

Contact AYP Financial Planning for a confidential review now. First meeting is without charge but could prove to be the best time you ever spend. We can help, contact AYP Financial Planning on 01434 607808 or email info@aypfinancial.co.uk.

City Tavern Invites Couples To Tie The Knot

By on 9th April 2016in Lifestyle

A stylish city centre bar is providing a quirky alternative venue for weddings with three unique packages…

The award-winning City Tavern at Northumberland Road, Newcastle, is opening its doors to couples who want to tie the knot in a stylish city centre location.

Offering a range of wedding options is the latest initiative from the bar’s entrepreneurial owner, Dave King, who has put the historic pub back on the map since taking it over two years ago.

The weddings are aimed at smaller, more intimate ceremonies suitable for parties of between 10 and 50 guests.

Couples can choose to say “I do” in the bar’s library or even marry on the City Tavern’s terrace, followed by a reception on the mezzanine level.

And chefs at the venue have also created an imaginative range of menu options including dishes such as canapés of seared tuna and caviar tartlets and tempura king prawns, with main courses of Northumbrian beef, steamed mussels, ‘gold leaf’ flatbread and vegetable and apricot tagines.

“The City Tavern is unique as it’s a venue with a really historic feel and a sense of tradition,” said Mr King.

“It’s perfect for more intimate weddings for people who like somewhere truly original and for couples who find a city centre venue really appealing.”

The packages on offer include a range of extras for the couples, including candle-lit candelabra in the library windows, PA system for the speeches and a variety of drinks options.

The bar is also able to provide everything from personalised wedding crackers to individual cupcakes, to add a real “wow” factor to the day.

“We are an unconventional venue but we find that more and more couples like that,” said Mr King.

“And we promise anyone who does choose to get married here a really memorable day.”

City Tavern, widely recognised for its Tudor style façade, was taken over by Mr King early in 2014 and then enjoyed a £450k refurbishment to create a state-of-the-art bar while still retaining the venue’s historic features.

City Tavern’s wedding packages include a range of options. Details and prices can be found at http://www.citytavern.co.uk/weddings/

Sound Advice From AYP Financial Planning

By on 2nd April 2016in Lifestyle

It’s a fact of modern life that as many as 40% of all marriages in the UK end in divorce. The break-up can be a traumatic time for all concerned and brings with it the need to make financial arrangements that can have ramifications for years after the settlement is made.

There are no hard and fast rules governing how assets should be divided, although there is a broad starting point of 50:50. If the divorcing couple are unable to come to an agreement on the division of their financial assets, the court will decide how these should be apportioned between them, based on factors such as their age, earnings ability, property and investments and role in the relationship (e.g. breadwinner or primary carer). The needs of any children of the marriage are always considered paramount.

AYP Financial Planning specialise in providing advice on divorce and can offer sympathetic, patient and pragmatic support throughout the whole process. You will need help to decide on your future financial goals, review your mortgage, life insurance, savings and investment plans and you’ll need to remake your will. Post-divorce, reorganising your finances is an essential step in moving forward to a new life.

Contact AYP Financial Planning for a confidential review now. First meeting is without charge but could prove to be the best time you ever spend. We can help, contact AYP Financial Planning on 01434 607808 or email info@aypfinancial.co.uk.

Master Glaze NE: What Makes Our Business Stand Out

By on 1st April 2016in Local Biz

Local biz Master Glaze tell us what makes their business special…

Master Glaze NE Ltd is a small family run business, established in 2001. We are proud to be FENSA registered, assuring our customers of our high standards, and as a member of the Glass And Glazing Federation offer an insurance backed guarantee with our installations.

Keeping the company small ensures that we can stay with our customers every step of the way on their journey to having new windows, doors or maybe a conservatory. We specialise in traditional sliding sash windows, and also offer a totally unique composite bespoke design service if your looking for the wow factor at the entrance to you home, or something a little more traditional we have a huge range of door and window designs to choose from in a fantastic rainbow of colours.

We can help with planning and design where required to take some of the leg work and pressure from our customers. We recycle all of our waste products and so are working towards a greener environment.

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We also work closely with landlord and letting agency’s, offering a repair and remedial service. So everything from a failed/misted unit to a broken lock.

We use all local suppliers and can offer our customers a hands on visit to our showroom in Birtley where they can see the quality and range of products available.

We offer genuine quotes and great prices for the highest quality products we use Duraflex diamond plus profile is a market leader.

We do not employ salesmen so no hard sell from us either.

If you would like some advice or for one of us to pop out and see you then just TEXT windows and we will call you back or call on  Graham 07947804983 /  Dawn 07904501431 / 01207 231481.

Or email us on masterglazene@gmail.com and we will get right back to you.

Canny Beds Celebrate Newly Opened Team Valley Store

By on 31st March 2016in Local Biz

Leading North East furniture supplier Canny Beds are celebrating the opening of their brand new store…

We all know how difficult it can be to find good quality furniture and beds at prices you can afford, which is why Canny Beds & Furniture believe they have brought together the best possible furniture at down to earth prices.

Whether it is the bedroom, dining room or living room you’re looking to add beautiful furniture to, you can rest assured that you’ll find it here for the best price online.

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Canny Beds’ brand new store is now open in Team Valley, which means you can choose between that or the Chester-le-Street store to pop in and find your new furniture. Want to check availability beforehand? Call 0191 410 9994 to chat to one of their staff in advance.

Testimonials:

“Seamless ordering and delivery. Bed of good quality and assembled easily. Great price.”

“Brilliant communication, bought bed for my 3 year old and it is excellent quality and very easy to assemble. All round excellent product for price.”

“Speedy delivery and the cheapest I found the bed anywhere!”

“Brilliant. Lovely comfy mattress. Great price and service.”

Seaham Solicitor Calls For Care Fees Cap In Budget

By on 30th March 2016in Lifestyle

A Seaham solicitor is calling on the Chancellor to end the worry about the unlimited cost of old age care by finally introducing his long promised and much delayed cap on personal care fees in the Budget…

Andrew Simpson, Lead Panel Solicitor with Seaham-based legal and financial planning specialist Ensure Inheritance, says that introducing a cap on costs for personal care would allow people to make plans for their long term care and reduce the widely held fear of being forced to sell the family home to pay for it.

He says: “A cap of £72,000 for personal care costs was to have been introduced this April (2016), but has been delayed until at least 2020. I would like to see the Chancellor stick to his earlier promise and bring in the care fees cap next month.

“With current legislation demanding that anyone owning assets valued in excess of £23,250 is required to make a 100% contribution towards the cost of their care, it’s no wonder that this a major concern for older people.

“Although this legislation also prevents people from deliberately moving their assets in order to avoid paying care fees, it is possible to protect the family home by using a Wealth Preservation Trust, provided the owner is in relatively good health and not presently intending going into long term care, and has genuine concerns about who will benefit from their assets.

“Unfortunately the lack of a care fees cap has meant that there has been little provision or take-up of insurance products for care, so establishing a trust for estate planning purposes is being increasingly used by people keen to avoid sacrificing the family home to pay for their care.”

Ensure Inheritance has produced a booklet which provides further information on Wealth Preservation Trusts. For a free copy, please contact Ensure Inheritance on tel. 0191 338 5143, via email at info@ensureinheritance.co.uk or via its website www.ensureinheritance.co.uk.

Based in Seaham in County Durham, Ensure Inheritance provides a range of legal and financial planning services which help protect financial assets to provide their clients and their loved ones with peace of mind. In addition to long term care planning and wealth preservation trusts, services include Wills and Estate planning, funeral planning, inheritance tax planning, powers of attorney, court of protection deputyships, and probate.

Independent Distillery Finds Magic Number Of Botanicals

By on 26th March 2016in Local Biz

A new independent small batch distillery, based in the North East, has found the magic number for crafting award-winning gin…

Poetic License, which launched at the Roker Hotel, Sunderland late last year, uses 13 botanicals for its Northern Dry Gin and its Old Tom Gin – both of which won accolades in the Gin of the Year competition at the Craft Distilling Expo 2015.

The majority of the Northern Dry Gin’s botanical bill is made up of juniper berries, imported from Italy, as well as coriander seeds and cardamom pods, which are hand-crushed on site to create a greater surface area for oil extraction.

These are combined with 10 additional botanicals, including rose petals, cubeb pepper, Persian dried limes and Angelica root, to give Poetic License’s Northern Dry Gin (43.2%Vol.) a punchier flavour than many others on the market.

Similarly the brand’s Old Tom Gin (41.6%Vol.), which took first prize in its category at the Gin of the Year awards, combines majority juniper and coriander with 11 other botanicals, including hibiscus and black pepper, cassia bark, liquorice root, lime leaves and rose petals.

This gives the finished product a natural sweetness, without the need for added sugar.  After distillation the gin is rested in oak, to produce a rose gold colouring.

Luke Smith, Distiller for Poetic License, said: “While Northern Dry and Old Tom are both true to their gin style we’ve also worked hard to make them unique.

“Putting our own spin on the original idea has given the spirits far more character and we hope they will appeal to those free-thinkers, who don’t necessarily conform to the norm.”

Poetic License, so-named for its wild spirits designed to appeal to discerning drinkers, was first launched by North East entrepreneur, Mark Hird, in September 2015.

The micro-distillery, one of only a handful in the region, currently produces three core products – Northern Dry Gin, Old Tom Gin and Graceful Vodka – all of which are distilled on site and bottled by hand.

“From the very beginning I wanted Poetic License to produce something completely different to the gins and vodkas already on the market,” said Mark.

“Not only are our processes very artisanal, but we have also experimented widely with various botanicals to ensure our flavours really pack a punch.”

Poetic License products are currently being stocked in bars, hotels, restaurants and retailers across the North East, with plans to expand throughout the UK and internationally in the near future.

For more information visit www.poeticlicensedistillery.co.uk or contact Luke Smith on 0191 5103564 or luke@poeticlicensedistillery.co.uk for all trade sales enquiries.

Prom Princesses To Be Pampered At Ramside

By on 25th March 2016in Lifestyle

Prom princesses can now get pampered and preened on the lead up to their big night at a luxury North East spa…

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The £8m Spa at Ramside, at Ramside Hall Hotel near Durham is opening its doors to school leavers with three special prom packages.

The packages, which are valid from May to July, include the ultimate Prom Princess package, the Dazzling Divas package and the Mii & My Prom make-up package.

Girls opting for the Prom Princess package can expect two indulgent sessions of pampering on the countdown to the big day, with the option to add on a third session with the in-house team at Reef Hair Salon.

The initial session will include a personal consultation with Ramside’s beauty experts, body exfoliation to prepare the skin for any tanning and an express booster facial for added radiance.

On the second visit, just before – or on the day itself – the treats continue with a polish and shine for hands and feet and a brow fix by in-house cosmetics company Mii. Guests can then either opt for a make-up tutorial prior to prom or choose to have their make-up done on the day.

For the girls wanting to pamper with pals, the Dazzling Divas package includes a polish and shine for both hands and feet.

Females wanting to focus on their face can go for The Mii & My Prom package, which includes brows by Mii and either a make-up tutorial prior to prom or make-up on the day.

“With proms being such a huge highlight for school leavers, we wanted to ensure that we provided packages that will add a bit of extra sparkle to prom night,” said Jill Russell, Spa Director.

“Proms are often compared to weddings in terms of preparation, so the Spa at Ramside aims to provide a memorable experience for young girls and really make them feel special for their first ‘big day’.”

Prom packages can be booked by calling 0191 375 3088 or going to www.ramsidespa.co.uk. Book before April 30 to receive a free gift on day of arrival.

Sunderland Hilton Hotel Nears Completion

By on 24th March 2016in Local Biz

The North East’s newest hotel is nearing completion, marking a Northern landmark for one of hospitality’s biggest brands…

The Hilton Garden Inn Sunderland will open adjacent to Sunderland’s Stadium of Light later this spring.

It will be the first Hilton Garden Inn property to launch in Northern England and the only one to date between Birmingham and Glasgow.

“It is a real coup for us to be bringing the Hilton Garden Inn brand to such an exciting location just opposite the Stadium of Light,” said Kim Kelso, Hilton Garden Inn Sunderland’s General Manager.

“The new hotel will help to fill a gap in the market catering for the growing number of people coming to work and play in Sunderland.”

The Hilton Garden Inn Sunderland, created by Gateshead-based architects, Redbox Design Group, will offer high quality, good value accommodation, with two wings housing 141 en-suite guest rooms.

Each room will boast the brand’s signature bedding with fresh, white duvets and crisp linens, as well as a spacious and clutter-free work desk with an ergonomic desk chair, in-room mini fridge, individually controlled air conditioning, flat screen TV and access to complimentary WiFi.

Construction on the H-shaped property, which began in summer 2015, is being managed by professional service provider, Turner & Townsend and led by Tolent Construction Ltd.

Key contractors include Opus Building Services, based in Sunderland, Walker Modular, based in Yorkshire and Swandene Specialist Contract Interiors, based at Washington, Tyne and Wear.

“We are delighted to have been involved in this project and have worked hard to reinvest in the local economy by utilising our own locally-based workforce and regional subcontractors as much as possible,” said John Wood, Tolent Chairman.

The Hilton Garden Inn Sunderland, which is expected to launch in early May, is already accepting bookings and looking ahead to a busy first quarter.

“Once completed, we’re confident that the Hilton Garden Inn will make an ideal base for tourists exploring the sites of Sunderland and the surrounding area,” said Kim Kelso.

“It will also offer an accommodation option for those attending events at the Stadium of Light, including football, weddings, corporate events and the performance by Beyonce in June.”

For more information about the Hilton Garden Inn Sunderland please visit  www.hgisunderland.hgi.com or www.safc.com/hotel  or email enquiries@hgisunderland.com.

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