Safeguard Your Business: Why a Business LPA is Essential
Protect Your Business with a Business LPA: Key Benefits A Business Lasting Power of Attorney (LPA) is a crucial legal tool for business owners, empowering trusted individuals, known as “attorneys,” to make decisions if the owner becomes incapacitated. Unlike personal...
Top 5 Costly Mistakes in DIY Probate
Handling probate and estate administration without professional guidance can expose executors and personal representatives (PRs) to significant risks including personal liability. Here are the top five common mistakes that lead to these liabilities. 1....
Estate Planning with Heart: The Benefits of Vulnerable Persons Trusts in Wills
A Vulnerable Persons Trust (VPT), also known as a Disabled Person’s Trust, is a legal structure specifically designed to protect the financial interests of individuals who may be vulnerable due to a physical or mental disability. In the context of estate planning,...
Top 5 reasons to avoid DIY Lasting Powers of Attorney
DIY Lasting Powers of Attorney can often be problematic. Unlike Wills, mistakes with LPAs cannot be easily amended. Here are the Top 5 reasons why it is advisable to have a Lasting Power of Attorney drafted by a professional. Avoiding Errors and Delays LPAs must meet...
The Budget and the growing squeeze on Property Owners
The first Budget by Chancellor Rachel Reeves extends the freeze on inheritance tax (IHT) thresholds to 2030. With rising property prices, this freeze could mean more families face an IHT bill in the future. Given that property prices generally double every 10-15...
No need to panic ahead of the UK Budget: A Message from Four Oaks Legal Services
As Wednesday’s Budget approaches, it’s natural to feel apprehensive, especially when it comes to potential changes in taxation, including Inheritance Tax (IHT). With speculation around possible tax increases and new fiscal policies, Four Oaks Legal Services wants to...
Inheritance Tax shake-up expected in next week’s Budget
Inheritance tax (IHT) in the UK is a tax on the estate of a deceased person when the value of their assets exceeds certain thresholds. It is widely rumoured that the rates of IHT will increase and thresholds will change when Rachel Reeves delivers her first Budget on...
Care costs – could your home be at risk?
Many homeowners worry about having to sell their homes to cover care costs in later life. There are several steps you can take to protect your home, although it is crucial to approach things carefully to avoid pitfalls, such as accusations of "deliberate deprivation...
Is marriage a money saver?
Marriage has never been more unpopular. Couples in the UK are shunning married life in greater numbers than ever. However, married couples gain several financial advantages over unmarried couples, particularly tax benefits related to Inheritance Tax (IHT) and Capital...
Top 5 places to search when looking for a missing Will
We often take enquiries from relatives struggling to locate a deceased’s last Will. Sometimes, it can feel like looking for a needle in a haystack. For example, original Wills can be stored with the solicitor who drafted the Will, but what happens if that law firm no...
Will the October Budget scrap Deeds of Variation?
This very question was asked by a client earlier this week. What is a Deed of Variation? Deeds of Variation are used for several reasons, but crucially to reduce Inheritance Tax (IHT) payable on a deceased’s estate. They can be used to address errors in the drafting...
Welcome to Four Oaks Legal Services
We are excited to welcome you to our new look website. We are a small, yet highly dedicated law firm based in Lichfield, Staffordshire. Our mission is to provide you with clear, practical and effective legal advice tailored to meet your needs. We understand that legal...