A prominent pension provider has warned that retirees could be preventing their families from helping them manage their finances should they become too ill to manage their affairs themselves causing potential financial crisis. According to a recent survey, retirees using income drawdown to fund their retirement have not, in the majority, set up Lasting Powers of Attorney (LPA) whereby they can appoint trusted family members or professional advisors to access funds should they not be able to through illness or mental capacity. This means that even a wife or husband would be forced to apply to the courts by way of a Court of Protection application to take charge of their relative’s finances. More and more people have to make complicated financial decisions on their pensions into older age; the risk of sudden illness or dementia increases. Many retirees are unprepared for this eventuality. The pension provider advises that the time to set up an LPA is well before you need it, and they will be highlighting this to their customers.
After a great deal of work during the last few months the official opening of our Great Yarmouth office took place on Wednesday 6 December in conjunction with Lacons Brewery. We officially poured the first pint of Lacons beer on the premises for 50 years!
In around 1900 there were approaching 300 public houses in Great Yarmouth. The picture above is of the Saracens Hotel at around the turn of the century (1900). The pub closed for trading on 9 December 1968. The Saracens Head was a Lacons Public House and following its closure it became the office of John Critoph and Co and then an insurance office in 1996 before Norton Peskett acquired the building in September 2016.
We are pleased to support Bungay High School and the Vulcan Racing Team competing in the annual F1 in Schools competition.
The group of Year 9 students must design and produce a model car of not less than 65g. The pupils need to deploy their technological skills to design, manufacture and then race their minature Formula 1 car. To read more go to https://sponsorshipvulcanr.wixsite.com/vulcanraceteam
The Alexis Ruthven Trust have reached their target of £50,000!
In June 2015 The Alexis Ruthven Trust was created to raise £50,000 to fund building alterations to meet a little boy's basic living needs as well as further equipment he will need as his condition progresses. The discretionary trust was set up with assistance from David Watson at Norton Peskett Solicitors.
Alexis lives in Suffolk with his three younger sisters and has Duchenne Muscular Dystrophy, a progressive muscle wasting condition for which there is currently no treatment and no cure. Sufferers lose the ability to walk before their teens, and have a life expectancy of mid-late 20's.
Alexis is now enjoying his new ground floor bedroom and a fully accessible wetroom which has allowed Alexis to have greater independence while he's able to.
If you would like to read more about Alexis or donate go to alexisappeal.co.uk
A campaign aimed at encouraging more people to start a will – while raising funds for disabled and older people in their area – has been hailed a success.
The ‘Where There’s a Will, There’s a Way’ campaign was organised by Papworth Trust in conjunction with solicitors across the East of England.
The will-writing service was supported by Norton Peskett’s Halesworth branch which raised £495.
Gavin Chappell-Bates, the charity’s major donor and legacy fundraiser, said: "This is the second year Papworth Trust has run a will-writing campaign and we would like to thank everyone who supported it."
"We were delighted to work with so many solicitors across the East of England and the final total raised from the campaign will make such a difference to the lives of the disabled and older people we support on a daily basis."
Claire Fox, from Norton Peskett, said: "We were only too pleased to support this worthwhile campaign, which has both a fundraising and awareness-raising message at its heart."
Norton Peskett is among a group of generous solicitors who have donated their time and services to Papworth Trust to support the charity’s work with disabled and older people, as well as their families and carers.
Papworth Trust offers essential support and care to disabled and older people, their families and carers. They help people of all ages to live independently in their own homes, to learn new skills, and to find and keep jobs that are right for them. To find out more about the charity please go to www.papworthtrust.org.uk.
Our Halesworth office is showing it cares by donating its fees for Wills to charitable causes during the month of November 2016. The suggested donation level is £125 for a single basic Will and £200 for a pair of Wills. We are aiming to raise as much money as possible for 2 local charities.
Clients who wish to make a Will can choose for the costs of their Will to be passed to one of the following causes:
- Halesworth Community Nursing Care Fund which was set up in 1989 to support patients (registered with Cutlers Hill Surgery) at the end of their lives by providing extra nursing care, support and equipment to those who choose to die at home. The fund is also looking to build an Information & Support Centre based in Halesworth but will be open to everyone living in all the towns and villages within a 15 mile radius of Halesworth. It will offer support, counselling, benefits advice, holistic therapies etc. to people who have been diagnosed with a life limiting illness, as well as their families, friends and carers. www.halesworthhealth.org
- World Land Trust, an international conservation charity based in Halesworth which protects the world’s most biologically important and threatened habitats. Since its foundation in 1989, it has funded partner organisations around the world to create reserves, and give permanent protection to habitats and wildlife. Your donation would be to the Action Fund which will then be allocated to any one of their conservation projects across the world as most urgently needed. www.worldlandtrust.org https://youtu.be/DLu0cs_jZtQ
Making a Will is one of the most thoughtful and important things we can do to protect those we love. Yet fewer than half of people have made one. Most say they simply haven't got around to it and yet it can take years to sort out someone's estate if they die without a Will, and can cause significant problems for their families. Norton Peskett will be offering readers the opportunity to have a simple Will, professionally drawn up and you will be asked to consider making a donation to one of the above charities that reflects the fee normally charged when making a Will.
Limited appointments are available so book now to avoid disappointment.
For further information or to make an appointment to make a Will please contact our Halesworth office on 01986 872513.
Norton Peskett Solicitors are delighted to announce that Paul Gregory has been appointed a Partner from 1 July 2016.
Paul joined the firm in September 2002 having previously worked for another local firm for 9 years. He will continue to manage and work from the Great Yarmouth office.
As a qualified Chartered Legal Executive, Paul will make history by becoming the first non Solicitor Partner to be appointed at Norton Peskett since the firm was founded in the early 1830's. Paul is married, has two young children and enjoys spending free time with his family. He also likes to swim and attends the occasional football match!
Paul was born in Great Yarmouth and has always lived locally. He specialises in residential property law and has a vast personal knowledge of the local area which is always of great benefit when dealing with property and associated matters.
Norton Peskett with its five offices in Halesworth, Beccles, Gorleston, Great Yarmouth and Lowestoft has once again secured the national Law Society's law management quality mark, Lexcel version 6.
Lexcel is developed specifically for the legal profession. It is an optional, recognised accreditation scheme for law firms and in-house legal departments which gives assurance that a practice meets high client care and business management standards.
To gain and retain Lexcel accreditation, the practice must undergo a rigorous initial then annual application and assessment process. This includes conducting background checks and an on-site visit from an experienced, trained Lexcel assessor.
President of the Law Society, Jonathan Smithers said: "Gaining and maintaining Lexcel is not an easy process. The application procedure is extremely rigorous. There are many facets of being a Lexcel accredited law firm, including excellence in client care. A commitment to customer service in an increasingly competitive legal services market is vital in order to stay competitive. Firms that make the grade should feel proud of their achievement.
"The scheme is a beacon of quality to clients and potential clients alike."
A Will is a tool that gives you control over what happens to your money, possessions and property after you die.
Providing for loved ones
Many people assume their possessions will automatically pass to loved ones. The fact is the only certain way to ensure that your spouse, partner or relative inherits is by making a Will. If you die without making a Will the intestacy rules apply in an arbitrary manner.
The intestacy rules do not currently recognise co-habitees who are unmarried and not in a civil partnership. For example if you live with your partner and die without a Will your partner will not automatically inherit any of your estate. The estate will pass to your surviving family – children, parents, brothers and sisters - your partner will have to make a claim, obtain separate legal representation and potentially fight in order to obtain a share in the estate. This can be distressing and expensive and can be easily avoided by the preparation of a Will.
The Law Society has recently published "Top tips for buying a flat" and "Questions to ask your solicitor" which are both aimed at consumers considering buying a leasehold property.
To read these helpful guides click here The Law Society - Consumer Guide to Buying a Flat