Tag: featured biz

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.

Restaurant Review: Le Raaj, Sedgefield

By on 11th April 2016in Lifestyle

Andy Knowles shares his thoughts on Sedgefield’s newest premium dining experience…

For years I had been driving past the derelict Little Chef building at the round-a-bout between Sedgefield and Stockton. A road I use each evening on my way home from the office in Chester-le-Street so when I noticed the Le Raaj ‘coming soon’ signs appear I was quite excited. Not only is it great to see one of our clients expanding from Durham into my region of Teesside, its also great that a new Indian restaurant was opening as I consider myself an Indian food aficionado.

After many weeks of anticiptation I noticed the ‘we are open’ banners were on display so I made a mental note to organize a babysitter and treat my other half to a night of beer and a curry. Who said romance was dead!

As we arrived at the restaurant the grand entrance looked stunning with a pitched roof and marble pillars that stood out with mood lighting similar to something you might expect to see at an exclusive members club in Mayfair, London. We were both very impressed.

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On entering the restaurant there was a great ambience and we were greeted by the polite manager who ushered us to a comfy seating area where we ordered some drinks and were handed the menus that were so new and the ink was must have barely dried. This was going to be a great evening I thought.

After a comfortable and relaxing wait the manager took our orders and we were showed to our table by the window. The restaurant was relatively busy considering it was a Tuesday night and the sound of chatter and music made the atmosphere really great and added to the overall ambiance.

As we caught up with each other on this very rare ‘date night’ the waiter arrived with poppadum’s and pickles and it wasn’t long before we started to break them up and work our way up to the lime pickle.

After another comfortable break it was time for the starters. My wife opted for Tikka chicken paneer that was described as marinated boneless chicken in tandoor and served with homemade Indian cheese. I opted for Onion Baji that was one of the best I’ve ever tasted.

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For main course Kelly selected a predictable Chicken Korma and I went for one of the chefs special dishes called ‘Goan chicken’ A classic northern dish, slow cooked with aromatic spices, whole zera, garlic Goan chilli and coconut – spicy dish

We finished off with a nice coffee and complimentary chocolate before heading home after a great evening of good food and exceptional service.

So would I recommend Le Raaj in Sedgefield? Absolutely! And I hope its not too long before we get to visit again.

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.

Canny Beds & Furniture Open New Team Valley Store

By on 11th March 2016in Local Biz

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

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.

CannyBeds

This month (March), Canny Beds’ brand new store will be 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 matress. Great price and service.”

North East Solicitor Backs Calls For Funeral Payment Reforms

By on 1st March 2016in Local Biz

A North East solicitor has backed calls for grants towards funeral costs to be increased for low income families, as the House of Commons Work and Pensions Committee hears evidence on the matter…

Andrew Simpson, Lead Panel Solicitor with Seaham-based Ensure Inheritance, supports a reform of the present system of the Department for Work and Pensions’ Funeral Payments scheme which provides help to anyone on a low income. He has added his voice to calls from funeral directors for the system to change.

Mr Simpson says: “The Funeral Payments scheme is simply ineffective at present. Applicants are not told how much they will get until after the burial or cremation, and often the money is not enough to cover the deposit of a funeral.

“The average grant is £1,375 towards individual burial and cremation costs, plus up to £700 for further expenses. But a basic burial costs at least £3,000, providing worry and money problems for low income families.”

According to Mr Simpson, many older people on pensions can struggle to meet the costs of a funeral, which is becoming more expensive.

He says: “The average cost of a basic funeral has increased by 65% in the last eight years, particularly as the prices for cremation services and burial plots charged by local authorities have gone up, making it even more expensive to give a loved one a proper send off. One way around this is to plan for funeral costs in advance through a pre-paid funeral plan or to make regular payments into a savings account.

“People generally do not like to think about their funeral and how their life will be celebrated, but taking time and trouble to do this, and paying for their funeral in advance can remove money worries and bring peace of mind to them and to their loved ones,” says Mr Simpson.

As part of its estate planning service, Ensure Inheritance provides advice on pre-paid funeral plans. They can be contacted on 0191 338 5143, via email at info@ensureinheritance.co.uk or via 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. Services include long term care planning, funeral planning, will and estate planning, inheritance tax planning, powers of attorney, court of protection deputyships, and probate.

Careers Service Spearheads Campaign Against Gender Stereotypes

By on 24th February 2016in Local Biz

The National Careers Service in the North East is spearheading a campaign to challenge gender stereotypes in the workplace…

As part of the campaign, the National Careers Service is helping careers advice professionals educate students across the region on the diverse range of opportunities open to them in the North East, regardless of gender. This has included attending careers briefings at colleges and schools in the region.

Labour market research by the National Careers Service in the North East reveals:

  • 21% of the science, engineering and manufacturing workforce is female.
  • Women make up only 9% of the UK’s engineering professionals.
  • 16% of IT specialists working in the North East are female.
  • 12% of applicants to computing degree courses are female.
  • Men make up less than 16% of the nursing care home workforce.
  • Men make up less than 20% of the social care workforce.
  • 67% of the Crown Prosecution Service workforce is female.
  • About 74% of the 20,000 members of the Chartered Institute of Legal Executives are women.

The National Careers Service in the North East is employing the latest technology to showcase its findings. The App – Challenging Occupational Gender Stereotyping (COGS) – funded through the Equality and Diversity Innovation Fund was designed to help address gender discrepancies in a range of professions including IT, healthcare and engineering.

Carly Hinds, Partnership Manager for the National Careers Service in the North East, said: “The App can be used to help open up the minds of young men and women in the region to the wider spectrum of careers opportunities available.

“We want to debunk the misconception that some sectors are the domain of mainly males or females.

“We are employing the latest technology through the creation of an app which challenges the gender disparities within some industries across the region, such as engineering and healthcare.”

The App featured prominently in a recent event at Stockton Riverside College’s Bede Sixth Form. Alice Atkinson, Careers Coordinator for Bede Sixth Form, said: “I felt it was important for the National Careers Service to attend our Respect Festival, as many young people do not realise key sectors in the North East offer great opportunities for both men and women, and that employers welcome diversity.

“It is important for young people across the North East to not feel held back by their gender when pursuing a career they feel passionate about. Our work with the National Careers Service in the North East is there to encourage our students to challenge gender stereotypes within the workplace.”

The National Careers Service in the North East is behind the Supporting Inspiration project, which helps young people develop an appreciation of the world of work, local labour markets, the skills needs for different business sectors and career opportunities open to them.

It has established a Supporting Inspiration portal, which aims to transform the way employers contribute to making young people in the region work-ready.

The service, which is part of the Government’s Inspiration agenda, uses the portal to match up employers willing to inform students about the world of work, with schools and colleges across the region.

It connects with employers in Durham, Northumberland, Tees Valley, Tyneside and Wearside, who can offer a range of careers education support such as providing work experience placements, mentoring students face-to-face and online, and attending careers fairs.

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