#TVLawyer

Many business owners delay putting in proper plans for later life. Why does this happen, and what consequences can it have?In this episode, Melinda Giles is joined by award-winning business coach Lucas Vigilante to explore what stops business owners from writing a will or establishing later life plans, and why they should be having conversations with solicitors and advisers.From breaking down the problems that emerge when formal plans aren’t in place, to the simple steps that directors can take now to secure their future – this is a must-watch episode for business owners.In this episode, you’ll discover:What stops business owners from creating formal later life plansWhy owners cannot simply rely on their company taking care of everythingWhat can go wrong without a written will or later life plan in placeHow having formal plans changes the way owners think and behaveWhy owners focus more on a business exit than life after the exitWhen business owners should speak to solicitors and advisersThe simple step business owners can take to start planning properly– – –Chapters0:00 - Introduction1:38 - Do business owners think about later life planning?3:00 - What stops business owners from thinking about the future?4:29 - Planning for your company and family’s futures5:56 - Splitting Powers of Attorney for your business8:09 - The dangers of delaying business and later life planning11:28 - Does your shareholders’ agreement contradict your will?12:40 - Have a solicitor and accountant when starting your business15:12 - Getting married invalidates your existing will16:40 - Later life planning should be taught in schools17:26 - How Inheritance Tax changes affect business owners18:58 - Make sure what you do aligns with what you want– – –With over 25 years of specialist experience, Melinda Giles is one of the UK’s leading contributors, speakers and authorities for private client law.A standout voice for all private client matters on TV, radio and podcasts, including well-received appearances on BBC Breakfast, Sky News, The Martin Lewis Money Show Live, Money Box and more, Melinda’s candid #TVLawyer video podcast answers the crucial questions people have about wills, probate, Powers of Attorney, and all aspects of later life planning.Need help with later life planning? Contact Giles Wilson: https://www.gileswilson.co.uk/Want to learn more about Melinda? Visit her website: https://www.melindagiles.com/

Following recent changes to pensions and Inheritance Tax laws, what should people be doing to manage their wealth and protect the legacy they leave their loved ones?In this episode, Melinda Giles is joined by Peter Ryan, Director & Chartered Financial Planner at Intellego Financial Planning, to discuss what the changes to pensions and Inheritance Tax really mean, and what they can do today that will make the biggest difference tomorrow.They also explore common mistakes people make with wealth planning, the importance of having both legal and financial advice, and much more in this thought-provoking edition of the #TVLawyer podcast.In this episode, you’ll discover:What people often get wrong about financial adviceWhat changes to pensions and Inheritance Tax could mean for youWho is affected most by these changesThe biggest mistake people make with their pensions and savingsThe difference that good financial planning can makeWhy you should be talking to both a solicitor and financial adviserThe simple step that helps you ease into this process– – –Chapters0:00 - Introduction1:15 - What does a financial planner do?3:12 - What do people tend to get wrong about financial advice?3:55 - What has changed for pensions and Inheritance Tax?6:21 - Who will be affected most by these pension changes?8:18 - Understanding Inheritance Tax bands9:03 - What’s the average pension pot in the UK?10:27 - Why do people put off financial planning?11:54 - Common mistakes about pensions and savings14:30 - Getting pension advice is more important than ever16:30 - Inheritance Tax is taxed at 40%17:28 - The right and wrong approaches to estate planning18:55 - Making financial decisions takes time– – –With over 25 years of specialist experience, Melinda Giles is one of the UK’s leading contributors, speakers and authorities for private client law.A standout voice for all private client matters on TV, radio and podcasts, including well-received appearances on BBC Breakfast, Sky News, The Martin Lewis Money Show Live, Money Box and more, Melinda’s candid #TVLawyer video podcast answers the crucial questions people have about wills, probate, Powers of Attorney, and all aspects of later life planning.Need help with later life planning? Contact Giles Wilson: https://www.gileswilson.co.uk/Want to learn more about Melinda? Visit her website: https://www.melindagiles.com/ 

In the second special FAQ edition of the #TVLawyer Podcast, Melinda Giles is back to answer your most-asked questions on later life care, mental capacity, financial exploitation and protecting vulnerable loved ones.Melinda has dedicated her career to protecting the legal rights of the elderly and vulnerable. With over 25 years of specialist experience guiding people through the often-complex and sensitive world of private client law, Melinda is the expert you can rely on for clear, straightforward answers on this important topic.Get the legal advice you need to protect your loved ones’ future with total assurance in this enlightening episode.In this episode, Melinda explains:How someone’s mental capacity is judged from a legal perspectiveHow a Lasting Power of Attorney or Court of Protection order can allow you to sell a loved one’s homeWhat the Court of Protection is, how it works, and when you may need itWhat you should do if you fear a loved one has become a victim of financial abuseIf your local council has the legal right to force a loved one into a care homeHow care home fees are determined and how much you could loseHow you should handle a family dispute about a loved one’s care

In the first of a two-part FAQ edition of the #TVLawyer Podcast, Melinda Giles answers seven key questions about wills, Powers of Attorney and protecting loved ones in later life.As one of the UK’s foremost specialists in private client law, with over 25 years of hands-on experience helping families, the elderly and the vulnerable, Melinda provides clear, practical answers to your most pressing questions regarding wills, Powers of Attorney and similar topics.Get the legal advice you need to plan for the future with absolute confidence in this special episode.In this episode, Melinda explains:Why you should still write a will even if you don’t have a lot of money or propertyThe risks for unmarried couples if one of them passes away without a willThe dangers of creating a DIY will rather than working with a solicitorThe differences between a will and a Power of AttorneyWhy your children can’t just make decisions on your behalf without a Lasting Power of AttorneyWhat to consider when choosing someone to act as your attorneyWhat steps to take if you dispute the validity or layout of a loved one’s will

In Series 2, Episode 6 of the #TVLawyer Podcast, Melinda Giles talks to Roy Daby, Managing Partner and Head of Commercial Law at Giles Wilson, about how vital it is that business owners and directors have Wills and Powers of Attorney in place to protect their company and their loved ones should the worst happen.Many business owners – even the most strategically-minded ones – often delay discussions about what will happen when they pass away. Here, Melinda and Roy explain why you should have these conversations about a Will or Powers of Attorney as soon as possible, and the dangers of leaving this until it is too late.In this episode, they discuss:The importance of having a Will as a business owner or company directorThe value of organising Powers of Attorney should you one day lose mental capacityHow working with a commercial solicitor saves company directors time, money and stressThe need to update your Will as your company or personal life evolvesThe relationship between your limited company and your WillTax reliefs you may be entitled to as a company owner or directorWhy you must have a professionally-made, carefully-worded shareholder’s agreement

In Series 2, Episode 5 of the #TVLawyer Podcast, Melinda Giles is joined by Leah Ellis, Senior Lawyer and Family Law specialist at Giles Wilson, to provide some invaluable advice on divorce and separation, particularly those that involve either children or partners with additional needs.As someone with an autistic son herself, Leah understands the unique considerations that parents with neurodiverse children must keep in mind. In this episode, she shares her knowledge and experience of helping parents of children with additional needs make arrangements when they separate, and shares her advice for handling these delicate cases.In this episode, they discuss:The importance of updating your Will before a divorce or before you remarryHow you can manage jointly owned property during a divorce or separationUnique factors to making child arrangements for neurodiverse childrenThe need for total transparency from clients through divorce proceedingsHow solicitors help protect vulnerable clients from coercive controlThe role Litigation Friends can play in divorce or separation proceedings

In Series 2, Episode 4 of the #TVLawyer Podcast, Melinda Giles sits with Sade Assibey, Senior Lawyer and Court of Protection specialist at Giles Wilson, to discuss the recent Assisted Dying Bill and what legal actions you can take regarding “end of life” care today.With many years of experience supporting vulnerable clients and their families, Melinda and Sade explore how Lasting Powers of Attorney and Advanced Directives can help people make choices over life-sustaining treatment if they were to lose mental capacity.In this episode, they discuss:What the Assisted Dying Bill is and why it may take a long time to confirmHow Lasting Powers of Attorney for Health & Welfare workWhy a Lasting Power of Attorney doesn’t stop you from making decisionsThe importance of choosing your attorneys wisely and having the tough conversationsWhat an Advanced Directive is and its relationship to life-sustaining treatmentThe need for specialist legal advice when establishing Powers of Attorney or Advanced DirectivesThe huge responsibility on attorneys around life-sustaining treatment

In Series 2, Episode 3 of the #TVLawyer Podcast, Melinda Giles is joined by Demi Marie, Senior Lawyer and Private Client expert at Giles Wilson, to explore a wide range of life-changing events and the legal planning you should consider for each one.From updating your Will and setting up trusts following the birth of a new child or grandchild, to how to protect your beneficiaries when you marry or remarry – Melinda and Demi explain the importance of trusted legal advice during life’s biggest moments. In this episode, they discuss: Why parents and grandparents should create or update their Will after welcoming a newborn The importance of updating your Will when your child becomes an adult Setting up trusts for children in your Will if you pass away before they turn 18 How a marriage revokes a pre-existing Will and steps to take to address this The numerous legal aspects of marriage and how solicitors help you manage these What legal advice to receive before remarrying to preserve your Will The value of specialist estate planning after inheriting a large sum of money

In this episode of the #TVLawyer Podcast, Melinda Giles sits with Giles Wilson Partner and STEP-qualified solicitor Pippa Bavington to demystify the process of setting up a trust following the Autumn Budget 2024.Here, the pair discuss how trusts can offer greater control over your legacy and why expert advice is key when setting these up. Pippa also explains that while a trust may be able to reduce your IHT bill, using it solely for this reason can have underwhelming results. In addition to this, Melinda and Pippa discuss:How it’s a costly misconception that trusts protect your assets from being taxedWhy a Lifetime Trust may face an Inheritance Tax charge every 10 years after its creationThe complications and responsibilities involved in being a trusteeHow a Disabled or Vulnerable Person’s Trust works, and the advantages these offer to protect those with additional needsHow Discretionary Trusts work and why they’re unlikely to stop you or your beneficiaries from paying IHTWhy you shouldn’t rush to place your pension within a trust just yet following the Autumn BudgetWhy you should avoid listening to advice that suggests you can place your home in a trust to reduce your IHT burden

In the first episode of Season 2 of the #TVLawyer Podcast, Melinda Giles sits down with fellow Partner and Private Client specialist Caroline Woodham to unpack the key changes to Inheritance Tax law in the Autumn Budget 2024.From changes to Business Property Relief (BPR) and Agricultural Property Relief (APR), to the removal of exemptions for pension funds. Caroline, an expert in Inheritance Tax (IHT) planning, explains the impact of these changes, who may be affected, and steps anyone concerned can take.In this episode, they discuss:The advantages of the nil-rate band and residence nil-rate band remaining fixed at their current rates until 2030.How most unused pension funds and death benefits will no longer be exempt from Inheritance Tax (starting from April 2027).Why this change could mean more estates are subject to IHT than would have been previously.The possibility that pension providers will be responsible for this side of IHT instead of the person dealing with the estate.What the proposed reforms on BPR and APR mean for business owners and farm owners looking to pass assets onto their descendents.The benefits of there being no changes to the rules on gifting or deeds of variation.Why these changes will require more clear, considered and professionally-led IHT planning.

In Episode 6 of the #TVLawyer Podcast, Melinda Giles is joined by Giles Wilson Probate Executive Victoria Ferguson to discuss the importance of planning for later life, including wills and Lasting Power of Attorney. Deciding who will make decisions if someone loses capacity, what happens to their estate, or how a funeral should be conducted are tough conversations, but essential to have in advance. Melinda and Victoria share their years of experience guiding clients through these sensitive discussions. They cover when to start thinking about wills and Power of Attorney, why it’s crucial to have these conversations early, and what factors to consider when appointing an executor or attorney. They also explain how Lasting Power of Attorney works, the steps for setting it up, and the timeframes involved.

In Episode 5 of the #TVLawyer Podcast, Melinda Giles is joined by Giles Wilson Associate and Private Client expert Demi Trunks to unravel the complexities of probate sales and transfers. Managing a loved one’s property after their passing is an honour, but without proper legal guidance, it can become overwhelming and leave executors personally liable. Melinda and Demi discuss what to consider when selling a probate property, the importance of accurate valuations, and how taxes like Inheritance Tax and Capital Gains Tax impact the process.  They also explore how to handle disputes between executors, the option of letting out a probate property, the dynamics of managing probate in blended families as well as the significance of legal advice and the powerful role of a Declaration of Trust for joint homeowners.

In Episode 4 of the #TVLawyer Podcast, Melinda Giles sits down with Giles Wilson Partner and expert in later-life legal matters, Pippa Bavington, to discuss the complexities of equity release. Whether it's for Inheritance Tax planning, helping your children, or funding a home improvement, equity release can be a practical solution, but it comes with significant long-term implications for you and your family. For years, Pippa has guided clients through the conditions and risks associated with equity release, ensuring they make informed decisions. In this episode, Melinda and Pippa explore what equity release is, who it’s available to, and the situations where it might be pursued.  They also cover the potential limitations and risks of equity release, the importance of financial and legal advice, and why this decision often opens the door to wider discussions on wills, Powers of Attorney, and estate planning.

In Episode 3 of the #TVLawyer Podcast, Melinda Giles talks to Giles Wilson Associate and STEP-qualified solicitor Caroline Woodham to discuss ways people can reduce their Inheritance Tax.  For years, Caroline has been helping people unlock these savings, ensuring that the inheritance they leave behind reflects their wishes as best as possible. Here, she speaks with Melinda about the complexities of this tax, what steps people can take, and what problems can be avoided with professional guidance. In this episode, they explore what Inheritance Tax is and how it affects your will, the benefits of leaving 10% of your estate to charity, and how a Deed of Variation can help your loved ones more than gifting money. They also explain the 7 Year Rule, the importance of seeking legal advice before gifting, and how downsizing may not affect your Residence Nil Rate Band. Plus, they discuss the unique tax benefits available to married couples and civil partners.

In Episode 2 of the #TVLawyer Podcast, Melinda Giles speaks with Giles Wilson Partner and Commercial Law specialist Roy Daby, to explore how Private Client Law and Commercial Law complement each other. Roy shares his insights from working with business owners and explains why it’s essential to consider both personal and business interests when planning for the future. They discuss topics like what commercial law covers, why solicitors should understand their clients as individuals, and how tools like Lasting Powers of Attorney, company trusts, and inheritance tax planning can benefit both businesses and families. They also highlight the importance of having legal documents in place early to prevent future complications and the value of transparency between solicitors and clients.

In the first episode of the #TVLawyer Podcast, Melinda Giles talks to Giles Wilson Associate and Court of Protection expert Kirsty Buxton to shed light on this crucial part of the legal system. The Court of Protection is essential for safeguarding the best interests of vulnerable individuals. However, it is often misunderstood and unfairly criticised for "blocking actions" or "taking people’s money." Melinda and Kirsty, both members of Giles Wilson’s award-winning Private Client team, discuss the true role of the Court of Protection and its importance in protecting the rights, welfare, and finances of those who are unable to make decisions for themselves. In this episode, they explore what the Court of Protection is, who it is designed to protect, and how it operates under the Mental Capacity Act. They also cover what’s involved in applying for a Statutory Will, why collaboration can help reduce costs, and why a family member may not always be the best choice for Power of Attorney. Additionally, they explain the difference between a Power of Attorney for Health & Welfare and one for Property & Financial Affairs, and what steps can be taken if financial abuse by an attorney is suspected.