Bank of Mum & Dad

Bank of Mum & Dad:
The implications of helping the younger generation getting on the property ladder

Helping the younger generation to get an all important foot on the property ladder may be the only option for many parents but what should we, as parents, consider before shelling out the deposit?

Perhaps the simplest way to help the younger generation in getting a foot on the property ladder, is by giving them a decent sized deposit as a GIFT. There are no tax implications on this gift of money, as parents can pass money (as much as they like!) to their children without incurring any tax liability.

However, if you (the parent) pass away within seven years of making the gift then it may be subject to Inheritance Tax. Where your Estate is worth more than £325,000 (the current Inheritance Tax Threshold) Inheritance will be payable on everything over this amount, including any gifts given within the seven years prior to your death.

Where money is gifted and the property is being bought by your child with a partner, it may be worth considering what would happen should the relationship between your child and their partner take a downturn and the property ultimately be sold.

Possibly a better option for parents not in a position to give an outright gift, is to LOAN your children the money for a deposit.

However, some mortgage companies may not be prepared to enter into arrangements where money has been loaned and so this could limit the mortgage options. Where a mortgage company is happy to accept the arrangement, they may want to know the exact repayment arrangements in order that these can be taken into account when calculating the mortgage and affordability and therefore meaning that a lower amount can be borrowed.Where you have loaned the money and receive repayments, you may be liable to Income Tax on any interest that you charge on the loan amount (if any interest is charged).

If you are going to loan the money, then it would be worthwhile drawing up a formal loan agreement to include all of the agreed terms in relation to repayment, any interest and the expectations of each party.

Another option would be for you to BUY THE PROPERTY with your child. You could purchase the property as TENANTS IN COMMON to reflect the amount of the property that is owned by each individual (perhaps dependant on the amount that you are putting into the property and how the mortgage will be paid).

However, if this means that you would own more than one property then it will count as a second home and you would therefore be liable to an additional 3% on Stamp Duty and may also have Capital Gains Tax implications when the property is sold if you are still listed on the property as an owner/proprietor at Land Registry or on the mortgage.

If this option is taken, it would be advisable to draw up a Declaration of Trust to include the proportions owned by each person and what happens if one party wants to sell.

 

So, although helping your children take that all important step to get on to the property ladder may seem like a great idea, it is extremely important to think about the best way of doing this…for yourself and for your children!

 

If you would like a FREE chat to discuss your options, get in touch on info@TotalLegacyCare.co.uk or 01727 865 121

Leah Waller

Have a Question or
want to book a 

FREE Consultation?
 

Rubik’s Cube & TLC: What is the connection?

Rubik’s Cubes & TLC:
What is the connection?

What on earth is the connection between a Will Writing Company and Rubik’s?

It does seem a little random doesn’t it?

Well let’s clear this up for you…

Here at TLC, one of our core services is putting Lasting Powers of Attorney in place for our clients. Our clients are concerned about losing capacity later in life and want to make sure they are covered – It’s very important, and you can find out more in our article “Why do I need an LPA?”.

One of our clients’ main concerns, when considering an LPA, is developing Dementia; a cruel condition that takes over an individual’s life. Like many of us, we at TLC have had loved ones that have developed this condition and have first hand experience of the devastation it can bring. We wanted to look at ways of preventing or at least delaying the symptoms of Dementia.

Dementia is classed as a “disease of the mind” and affects the brain. Memory loss is a significant symptom and so we were keen to look into this. Research and studies have shown that keeping the mind active has positive benefits at any age and this can take a variety of forms including completing crosswords, sudoku and such like, to improve their minds and keep them active. So, we thought, let’s up the ante a little and look at one of the most difficult puzzles of all time…the Rubik’s cube. 

One of the directors at TLC is a Rubik’s fanatic (that’s me!), not least because having learnt with my son just a few years ago, I know of the huge benefit that the Rubik’s cube brought, enabling bonding with my son as we learnt to solve it.

When you look at a cube for the first time, it seems utterly impossible. There are books to read to solve it, videos on YouTube but even these seem confusing and overwhelming. We persisted, took each stage onboard and finally completed it! It took a little while to continue to practise until we were confident to complete it, on our own, unaided. At the age of 40, I felt like I had really achieved something but the time with my son learning together was PRICELESS!

Neil Barras-Smith

I still solve the Rubik’s cube daily and not a day has passed, since I learnt the cube three years ago, that I haven’t picked up my cube and played around with it.

Still with us? Let’s continue.

Now, the benefits alone from the Rubik’s cube can make your mind sharper, it builds your own confidence and raises self esteem, improves hand-eye coordination just to mention a few. These benefits can make a huge improvement on someone’s day-to-day life and so this is why we decided to take the Rubik’s cube into care homes.

We took some time to devise lessons specifically tailored to the elderly – this was never, and will never be, about speed rather just about being able to solve the cube, as that in itself is a feat! 

We broke the course down into 8 steps to be able to complete the Rubik’s cube (from wherever you start with the cube). Each week we teach a step towards solving the Rubik’s cube.

Each step takes around 2 minutes to explain, then we practice, practice… and practice some more!!! Our participants love it, as do we. Seeing their faces light up as they understand and get what they are doing is rewarding in itself. There is a buzz in the room…there’s also confusion at times, but we work passed that 🙂

One of our current students is 101 years young and an absolute inspiration, she is so focused on learning and mastering the Rubik’s cube and is always the first in the class and the last to leave.

We are currently working with a fantastic Care Home in St Albans – Grace Muriel House, which is a fabulous care home with wonderful staff. The carers sit in on the lessons as the residents learn and able to support the participants in the lessons and then throughout the week once we have left. This project is supported by Rubik’s themselves and they have provided all of the Rubik’s cubes free of charge for everyone to learn – 

Thanks Rubik’s for your support!

We are now running a project to prove the cube can make a difference and hopefully delay the effects of Dementia. We also have a separate social media account & website  http://DementiaTLC.co.uk to provide awareness and support to those living with the condition and also carers and family members.

If you would like to learn to solve the cube yourself or want to get involved with our volunteering, please do get in touch.


info@TotalLegacyCare.co.uk or 01727 865 121

Neil Barras-Smith

Have a Question or
want to book a 

FREE Consultation?
 

Later Life Planning: Decluttering to Create an Organised Home for Independent Living

Later Life Planning: Decluttering to Create an Organised Home for Independent Living

 

On Tuesday 23 July 2019 at 8pm we will be chatting LIVE on our Facebook Page to Professional Organiser, Tracy Ross of Blissfully Organised about decluttering and organisation for a tidy home, work and living space.

The home of someone living with dementia may have become cluttered because of a change in habit i.e. they prefer to keep their possessions where they can see them rather than store them away and risk not being able to find them or because they have lost the ability to look after their living space.

I wanted to share my experience of working with families in the early stages of dementia to create a safe living environment for longer independent living

 

Difficulties of Living in A Cluttered Environment

Living in a cluttered environment can make day to day living more difficult and confusing for someone with dementia.

It may cause: 

  1. Increased anxiety and stress from not being able to find what they need
  2. Increased confusion as useless things become mixed up with important items
  3. Increased risk of tripping as it becomes more difficult to differentiate one object from another
  4. Increased hygiene risk as it’s more difficult to clean a cluttered space
  5. Increased fire risk making emergency access more difficult

 

The Importance Of An Uncluttered and Simplified Home

Creating an uncluttered and simplified home can help to increase the chances of someone living with dementia to maintain independence for longer, in a safe environment. They can continue to perform daily tasks and avoid situations which may cause confusion.

In early dementia it is common for an individual to mislay items around the home and become upset about not finding the things that they need.

I have worked closely with my clients’ adult children or carers to create a new simplified living environment. This can be a stressful and emotional time for everyone. I have found that it works better if the changes can be made in the early stages when they are more likely to understand the need for it. At this stage they can be involved with the decision-making process of where to keep key items and making decisions on which items are important to keep and those that they no longer need.

 

Blissfully Organised’s Top Tips to Create an Uncluttered and Safe Living Space

ACTION PLAN 

Create a decluttering and organisation action plan for each room. The objective is to create a safe and comfortable living space. Understand the items that are important to them and their daily routine – medicines, keys, toiletries, clothing and kitchen essentials (their favourite mug etc). Once you know which items are essential you can start to eliminate unnecessary items. Simplifying the number of items will make it easier to find what they need, i.e. in the kitchen you can reduce the number of cups, plates, cutlery, glasses to the minimum required. In the bathroom you can simplify the items to have one of each, i.e. shampoo, toothpaste and toothbrush, soap, hairbrush etc.

A PLACE FOR EVERYTHING 

Designate fixed locations for everything in the home, i.e. medicines, glasses, keys etc. 

Agree where key items should be stored in each room.

FREQUENTLY USED ITEMS 

Keep frequently used items in view i.e. utensils in the kitchen or toiletries in the bathroom.

ALWAYS COMMUNICATE 

Never simply move things without communicating its new home. This can cause a great deal of stress.

LABELLING CAN HELP 

You can label drawers or use photos so they can more easily find what they need in cupboards without having to have everything in view.

UNWANTED ITEMS 

My clients are often reluctant to let things go because they feel that it may be useful one day or is wasteful to throw it away. 

I find it’s very important to reassure a client that the things that they no longer need will be recycled to a valuable new home.

If you need further advice or support on decluttering and organising the living space of a relative in the early stages of dementia please do not hesitate to contact me. 

I would love to support you.

Later Life Planning: Decluttering to Create an Organised Home for Independent Living

 

On Tuesday 23 July 2019 at 8pm we will be chatting LIVE on our Facebook Page to Professional Organiser, Tracy Ross of Blissfully Organised about decluttering and organisation for a tidy home, work and living space.

The home of someone living with dementia may have become cluttered because of a change in habit i.e. they prefer to keep their possessions where they can see them rather than store them away and risk not being able to find them or because they have lost the ability to look after their living space.

I wanted to share my experience of working with families in the early stages of dementia to create a safe living environment for longer independent living

 

Difficulties of Living in A Cluttered Environment

Living in a cluttered environment can make day to day living more difficult and confusing for someone with dementia.

It may cause: 

  1. Increased anxiety and stress from not being able to find what they need
  2. Increased confusion as useless things become mixed up with important items
  3. Increased risk of tripping as it becomes more difficult to differentiate one object from another
  4. Increased hygiene risk as it’s more difficult to clean a cluttered space
  5. Increased fire risk making emergency access more difficult

 

The Importance Of An Uncluttered and Simplified Home

Creating an uncluttered and simplified home can help to increase the chances of someone living with dementia to maintain independence for longer, in a safe environment. They can continue to perform daily tasks and avoid situations which may cause confusion.

In early dementia it is common for an individual to mislay items around the home and become upset about not finding the things that they need.

I have worked closely with my clients’ adult children or carers to create a new simplified living environment. This can be a stressful and emotional time for everyone. I have found that it works better if the changes can be made in the early stages when they are more likely to understand the need for it. At this stage they can be involved with the decision-making process of where to keep key items and making decisions on which items are important to keep and those that they no longer need.

 

Blissfully Organised’s Top Tips to Create an Uncluttered and Safe Living Space

ACTION PLAN 

Create a decluttering and organisation action plan for each room. The objective is to create a safe and comfortable living space. Understand the items that are important to them and their daily routine – medicines, keys, toiletries, clothing and kitchen essentials (their favourite mug etc). Once you know which items are essential you can start to eliminate unnecessary items. Simplifying the number of items will make it easier to find what they need, i.e. in the kitchen you can reduce the number of cups, plates, cutlery, glasses to the minimum required. In the bathroom you can simplify the items to have one of each, i.e. shampoo, toothpaste and toothbrush, soap, hairbrush etc.

A PLACE FOR EVERYTHING 

Designate fixed locations for everything in the home, i.e. medicines, glasses, keys etc. 

Agree where key items should be stored in each room.

FREQUENTLY USED ITEMS 

Keep frequently used items in view i.e. utensils in the kitchen or toiletries in the bathroom.

ALWAYS COMMUNICATE 

Never simply move things without communicating its new home. This can cause a great deal of stress.

LABELLING CAN HELP 

You can label drawers or use photos so they can more easily find what they need in cupboards without having to have everything in view.

UNWANTED ITEMS 

My clients are often reluctant to let things go because they feel that it may be useful one day or is wasteful to throw it away. 

I find it’s very important to reassure a client that the things that they no longer need will be recycled to a valuable new home.

If you need further advice or support on decluttering and organising the living space of a relative in the early stages of dementia please do not hesitate to contact me. 

I would love to support you.

Tracy Ross

Professional Organiser

Blissfully Organised

tracy@blissfullyorganised.co.uk

Tel: 07818 423 376

www.blissfullyorganised.co.uk

Check out our Facebook Live with Tracy Ross on Tuesday 23 July at 8.00pm

Tracy will be answering any questions that you have live and we will be chatting all things decluttering.

If you are unable to join us for the live please send in your questions and we will do our best to get through these during the session.

Why Do YOU need an LPA? 5 reasons YOU should put your LPA in place

5 reasons
YOU should put your
LPA in place

You will know by now that here at TLC we are passionate about EVERYONE having Lasting Powers of Attorney in place! Contrary to popular belief they are not just something that should be considered as we get older.

So, we have set out below our FIVE top reasons for getting your LPAs in place. This is, of course, just the tip of the iceberg and there are many many more reasons but these should be enough to prompt you…

Having PEACE OF MIND is paramount.

Knowing that all of your property & financial affairs and your health & welfare decisions are in order and can be dealt with by your Attorneys, should you be unable to do so – whether that be because you are physically unable to or because you lack the capacity to do so – will not only put your own mind at ease but will also remove the emotional and financial burden from your loved ones should the situation arise that your LPA is needed.

Taking the decision to put your Lasting Powers of Attorney in place means that you have the control.

YOU DECIDE who you want to appoint as your Attorneys (and can also appoint replacement Attorneys). 

If you do not put LPAs in place and your loved ones/caregivers are put in a situation where an application has to be made to the Court of Protection to appoint a Deputy to make decisions on your behalf, then the Court will decide who to appoint and this may not be the person/people that you would have chosen.

Putting your LPAs in place means that you are able to GIVE SPECIFICS not only as to who you want to appoint as Attorneys but also in relation to how they will act; whether they can take decision on their own or whether decisions must be made unanimously by all Attorneys, or perhaps some decisions are to be taken by a specific Attorney or unanimously – this can all be provided for.

Your LPAs will also state when they can be used, whether this will be immediately or only when you lose capacity to make decisions.

You can also state your preferences and put in any restrictions that you want your Attorneys to abide by, giving you the ultimate control and peace of mind.

Putting your Lasting Powers of Attorney in place and getting them registered whilst you still have capacity is so important – TIME IS OF THE ESSENCE.

You are unable to register your LPAs once you have lost capacity and so your loved ones/caregivers will have to make an application to the Court of Protection to appoint a Deputy to make decisions on your behalf, then the Court will decide who to appoint and this may not be the person/people that you would have  chosen. This process will take a minimum of four months – all whilst important (and urgent!) decisions cannot be made.

The COSTS of putting Lasting Powers of Attorney in place pale into insignificance compared to the costs involved in making an application to the Court of Protection to appoint a Deputy to make decisions on your behalf. The application fee for the Court of Protection is currently £385 and this does not include any legal costs involved in drafting, finalising and lodging the application nor dealing with any questions or possible  objections.

The office of the Public Guardian charges a fee of £82 to register each LPA and each individual should register two LPAs – Health & Welfare and Property & Financial Affairs.

If you have any questions please do not hesitate to get in touch for a FREE consultation.

If you would like a FREE chat to discuss your options, get in touch on info@TotalLegacyCare.co.uk or 01727 865 121

Leah Waller

Have a Question or
want to book a 

FREE Consultation?
 

5 reasons
YOU should put your
LPA in place

You will know by now that here at TLC we are passionate about EVERYONE having Lasting Powers of Attorney in place! Contrary to popular belief they are not just something that should be considered as we get older.

So, we have set out below our FIVE top reasons for getting your LPAs in place. This is, of course, just the tip of the iceberg and there are many many more reasons but these should be enough to prompt you…

Having PEACE OF MIND is paramount.

Knowing that all of your property & financial affairs and your health & welfare decisions are in order and can be dealt with by your Attorneys, should you be unable to do so – whether that be because you are physically unable to or because you lack the capacity to do so – will not only put your own mind at ease but will also remove the emotional and financial burden from your loved ones should the situation arise that your LPA is needed.

Taking the decision to put your Lasting Powers of Attorney in place means that you have the control.

YOU DECIDE who you want to appoint as your Attorneys (and can also appoint replacement Attorneys). 

If you do not put LPAs in place and your loved ones/caregivers are put in a situation where an application has to be made to the Court of Protection to appoint a Deputy to make decisions on your behalf, then the Court will decide who to appoint and this may not be the person/people that you would have chosen.

Putting your LPAs in place means that you are able to GIVE SPECIFICS not only as to who you want to appoint as Attorneys but also in relation to how they will act; whether they can take decision on their own or whether decisions must be made unanimously by all Attorneys, or perhaps some decisions are to be taken by a specific Attorney or unanimously – this can all be provided for.

Your LPAs will also state when they can be used, whether this will be immediately or only when you lose capacity to make decisions.

You can also state your preferences and put in any restrictions that you want your Attorneys to abide by, giving you the ultimate control and peace of mind.

Putting your Lasting Powers of Attorney in place and getting them registered whilst you still have capacity is so important – TIME IS OF THE ESSENCE.

You are unable to register your LPAs once you have lost capacity and so your loved ones/caregivers will have to make an application to the Court of Protection to appoint a Deputy to make decisions on your behalf, then the Court will decide who to appoint and this may not be the person/people that you would have  chosen. This process will take a minimum of four months – all whilst important (and urgent!) decisions cannot be made.

The COSTS of putting Lasting Powers of Attorney in place pale into insignificance compared to the costs involved in making an application to the Court of Protection to appoint a Deputy to make decisions on your behalf. The application fee for the Court of Protection is currently £385 and this does not include any legal costs involved in drafting, finalising and lodging the application nor dealing with any questions or possible  objections.

The office of the Public Guardian charges a fee of £82 to register each LPA and each individual should register two LPAs – Health & Welfare and Property & Financial Affairs.

If you have any questions please do not hesitate to get in touch for a FREE consultation.

If you would like a FREE chat to discuss your options, get in touch on info@TotalLegacyCare.co.uk or 01727 865 121

Leah Waller

Have a Question or
want to book a 

FREE Consultation?
 

TLC talks to…A MIDWIFE

TLC talks to...
A MIDWIFE

Last week we were joined LIVE on our Facebook Page by the amazing, and very knowledgeable, Louise Brennan of Louise’s Antenatal Classes.

Louise is a qualified Midwife, registered with the Nursing and Midwifery Council (NMC) and a member of the Royal College of Midwives (RCM). As a practising midwife, Louise is able to demonstrate evidence-based knowledge on all aspects of Midwifery Care and has been running private antenatal classes since 2006.

We had a great chat with Louise and a mix of questions that were sent in prior to going live and then answered lots of questions that were posted by the many viewers throughout the talk.

Below we set out some of the questions and responses, but if you want to catch up with the video CLICK HERE!

Louise’s contact details are below should you have any other questions, please do get in touch with her, she is very helpful and knowledgeable.

So for the questions and the all important answers (I have paraphrased some of this ;))…

What is involved in the one-to-one Antenatal Classes that you provide and how long do they last?

The sessions last around 4-5 hours, taken at the pace of those involved including lots of breaks and the Refresher classes last 2-3 hours as they are the experts by this point but they do want refreshers on certain areas such pain relief.

It varies between couples and what they want, I have done classes that last a lot longer depending on what is needed and what they want, it is important to give them the time that they need.

Things change between births in policies and procedures and so between babies things can change and refreshers are needed and important.

What should you be doing when you first find out that you pregnant?

BE REALLY HAPPY, IT IS AMAZING TO BE PREGNANT!

Book in with your midwife as soon as possible as this can now be done online so that you do not need to wait for your GP to refer you and things will happen a lot quicker. Midwives like to be booked in by around 9 weeks so that everything can be done early and ready for your scan at about 11 weeks.

“I treat a lot of pregnant ladies as a physio and I tell my patients if they don’t feel the baby moving as much as usual they must get checked out but they worry about using up midwives time! I tell them midwives WANT them to get checked out and I’d like to know how Lou feels about this too please”

ABSOLUTELY, we want to see ladies and their babies! The only real way we know how the baby is doing is by their movements.

A baby that is happy and healthy will move lots, a baby that may not be as happy will conserve its energy and may stop moving.

So, what we look out for is a DECREASE in movement, an INCREASE in movement or a CHANGE in the pattern and if this is experienced then GET IN TOUCH with your hospital or Triage straight away, don’t just wait until your next appointment.

What are some of the common fears and worries?

Most people are worried about the labour and what to expect as well as the options of pain relief and I like to go through all of this in my classes and give them the knowledge on all of the different options that are available.

However, nothing can prepare you for the next 18 years!

Where would you go for good sources of information?

I would recommend:

  • NHS Choices website
  • NHS Symptoms Checker
  • Individual Hospital Websites

Leah’s book (BabySteps: A Guide to Maternity Leave & Maternity Pay) was also recommended for legal rights on Maternity Leave and Maternity Pay.

Important things to remember:

  • Keep your Antenatal appointments
    • This will check everything is okay
    • Reassure you
  • Antenatal Classes
    • Can go through any additional questions
    • Looks at Birth Plans
    • Talk about exactly what you want and get prepared

Are you seeing an increase in women Hypnobirthing?

Yes, hypnobirthing can be used in different circumstances, not just labour. I have also seen it used by people who have used hypnobirthing in elective cesarean sections.

It is all about mindset and keeping you focussed and relaxed during labour.

What happens once you have had the baby?

You should get automatically transferred to the Community Midwife, even if you don’t have your baby at your catchment hospital.

If you haven’t heard from the Community Midwife then you can chase this up by calling the ward.

My top tips are:

  • Try and sleep when the baby does and the baby will want to feed at night time – due to hormones – and so you need to try and sleep when the baby does as you will be up at night time doing the feeds.
  • Ask your visitors for help. Ask for help with you too, preparing food, cleaning etc.

Let people help! People will want to help and cook for you, wash and clean, so let them do that.

  • Don’t be worried about using pain relief!

Depending on your procedure you may well be given pain relief by the hospital.

You can take paracetamol after pregnancy and during.

You cannot take ibuprofen during pregnancy but you can after pregnancy.

What do Birth Reflections entail?

Birth reflections are useful when there are complications in the birth or feel upset or traumatised by the birth. It may also be to look at what happened and why the complications happened. Sometimes this only comes back to the forefront when a second pregnancy happens or when they think about having another child.

We can have access to the hospital notes although it is not always necessary as sometimes we can go through the procedure and how they felt.

We go through some of the reasons why the complications may have happened and what can be done to change this next time.

If there is something very specific to a hospital or staff members then I recommend going back to that hospital as they may offer some support that will be much more specific.

What do you enjoy most about the one-to-one classes?

I enjoy the one-to-one time rather than having to share the attention amongst everyone. You can really get to know the couple and spending time to find things out and work through their concerns and see them grow throughout the class.

The best bit about all of it is hearing back from them after the birth and seeing the photos!

Where can people go to find groups that may be in similar circumstances?

People may use Facebook groups or already have family and friends around them at a similar stage in their life.

There may well be local groups and classes that advertise.

I am also hoping to start some classes in the next few weeks, in St Albans, to get mums meeting up together. I will be starting this with the mums that I have done classes with but then open this up to everyone – mums, dads, aunties, uncles, grandparents, anyone with babies and toddlers.

“Are there any benefits going for a VBAC after a c-section?”

If you have a cesarean then it does not mean that you will have to the next time round, it will completely depend on the circumstances.

It may well be that next time you want to have a natural birth, if possible.

A natural delivery usually has a quicker recovery time as compared to a cesarean.

A VBAC class can talk through your options for a further delivery.

“Is there support out there for mums that have been through a traumatic labour? I had a bad time with my first and it really petrified me when I had my 2nd”

This is where I would definitely recommend a Birth Reflection as it is so important to talk it through and this can sometimes take two sessions as it is hard to talk about.

Often a first labour is the hardest and so talking about this can definitely help with a second.

What is the best part of your job?

It is so nice getting to know a couple throughout their pregnancy and then if you get to help deliver that baby, it is magical!

It never gets old, seeing a baby being born.

I really enjoy postnatal care and spending time with them and helping with any issues that they may have.

Thank you so much Louise!

Louise also prepared a great article for us on her:

Top Tips for preparing for the arrival of your Baby.

 

 

Louise Brennan

 

http://www.louantenatal.com/

 

07944 996566

 

louise@louantenatal.com

Leah Waller

Have a Question or
want to book a 

FREE Consultation?