Posted by: WealthIFA | January 6, 2012

Financial News Update we 06/01/2012

Hi and a Happy New Year to you!

Did you manage to enjoy the festive period and get any sort of break? Is it good to be back if you did?

Despite the 10 day break opportunity for myself, most of the “jobs” I planned to do at home ended up being postponed as we visited friends and family instead – looks like this weekend will be a busy one now?!

It normally takes a few days to get back into things after some time off but we have definitely hit the ground running so far this year with my diary almost completely full for January, I am now booking clients into February as opportunities to see them prior to this are fast disappearing.

This is great but has involved somewhat of a gear change to say the least!

Looking at the news over the last week or so, long term care is still featuring heavily with suggestions from the Prime Minister to reform how health and social care are treated, the extra cost of home care revealed as well as some local news relating to an old brewery that is to be converted into a private care home.

Elsewhere an example of using charitable donations in lieu of inheritance tax is reported and a suggestion for a “fairer” way to charge for it is reported.

Back in November ( I mentioned an episode of the BBC’s inside out programme which revealed a company that was offering seminars advising on “how to avoid care fees”.

Taking action to “avoid care fees” is something that could be interpreted as a deliberate deprivation of assets as far as a local authority is concerned and is a moot subject.

As the programme pointed out at the time, deliberate deprivation of assets to avoid care fees is something a local authority can “undo” and there is no time limit to how far back they can go.

Of course, the other aspect to mention on this is that if you do succeed in removing assets from your estate and later require assistance from the local authority when it comes to care fees, you also rely on the local authority to decide which care home is adequate for you to receive care – the choice is not necessarily your own.

The reason I mention this is that the company in question is holding seminars in Tunbridge Wells this month.

Oh well, I hope you have a great weekend… I guess I should get ready to tackle that jobs list now!

This Week …

Estate Planning

Portrait given to museum in lieu of inheritance tax:
An inheritance tax reform?:
Time to consider succession issues:

Long Term Care

Old brewery site to convert into a new home:
Stealth rise puts home care fees at £7000 a year:
Government unveils £150m extra care home funds:
Why the system is close to breaking point:
David Cameron orders merging of health and social care:
Responses to Health and social care integration:


Government reveals ‘alarming’ pension shortfall:


New Year’s Resolution – Treat Customers Fairly:
Invest and plan for the future in 2012:
Venture Capital Trusts:



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