Testamenty dla młodych rodziców: no należy wiedzieć?
Dlaczego rodzice potrzebują sporządzić testament?
Jeżeli rodzice umrą bez sporządzenia testamentu, zaczynają obowiązywać skomplikowane zasady prawne, zwane zasadami dziedziczenia ustawowego (ang. intestacy rules). Zasady te obowiązują w przypadku osób, które nie sporządziły testamentu i, jak można się spodziewać, rzadko odzwierciedlają konkretne życzenia rodziców.
Nie chodzi tylko o pieniądze; ważniejsze jest to, że sporządzenie testamentu pozwala na wyznaczenia opiekunów prawnych dla dziecka.
Brak testamentu może oznaczać niepewność i niepokój finansowy dla rodziny i osób zależnych.
Sporządzenie testamentu jest najlepszym sposobem ma upewnienie się, że najbliższe Ci osoby zostaną objęte opieką finansową zgodnie z Twoim życzeniem.
Sporządzenie testamentu najlepszego dla Twojego dziecka– co należy wziąć pod uwagę – pięć prostych kroków
- Wyznacz opiekuna dla dziecka
Opiekun prawny to osoba, która zaopiekuje się Twoimi dziećmi w przypadku śmierci Twojej i Twojego partnera. Rozważenie opieki prawnej jest bardzo ważne. Jeżeli w testamencie nie będzie o tym mowy, a obydwoje rodzice nie żyją, to lokalne władze lub sąd zadecydują kto zajmie się dziećmi. Mimo, iż zwykle w takich okolicznościach preferuje się najbliższą rodzinę, prawo to nie przysługuje automatycznie. Również, może okazać się, że nie życzysz sobie, aby po Twojej śmierci dziećmi zajmowała się najbliższa rodzina.
UWAGA: Rodzice chrzestni nie są prawnymi opiekunami, gdyż nie mają żadnych praw. Opieka prawna automatycznie wygasa wraz z osiągnięciem przez dziecko 18-roku życia.
- Rozważ sytuację finansową Twojego dziecka
Jeżeli nie zostanie inaczej określone w testamencie, dzieci zwykle nabywają prawo do spadku w wieku 18 lat. Wielu naszych klientów uważa, że jest to zbyt młody wiek, aby spodziewać się od dziecka, że będzie potrafiło zarządzać majątkiem. W testamencie można określić wiek nabycia spadku jako 21 lat lub więcej.
UWAGA: majątek będzie przechowywany w funduszu powierniczym. Dziecko nie będzie mogło nim zarządzać osobiście, ale wciąż może odnieść korzyści z majątku.
- Wyznacz powiernika majątku dla dziecka
Po Twojej śmierci, kiedy dziecko nie osiągnęło wieku zezwalającego na przekazanie mu spadku, majątek będzie musiał być przechowany w funduszu powierniczym.
W celu zarządzania funduszem powierniczym, będziesz musiał wyznaczyć osoby zwane powiernikami, które będą kontrolowały finanse Twojego dziecka.
Sporządzenie testamentu pozwoli Ci na wyznaczenie na powierników konkretnych i zaufanych osób, bez konieczności polegania na powszechnie przyjętych zasadach dziedziczenia ustawowego.
- Dokonaj przeglądu spadkobierców funduszy powierniczych, emerytury i polisy ubezpieczeniowej
Jeżeli posiadasz polisę ubezpieczeniową na życie, fundusz emerytalny lub inny kapitał przechowywany w funduszu powierniczym, nie zostaną one przekazane spadkobiercy określonemu w testamencie.
Jeżeli chcesz, aby Twoje dziecko odziedziczyło spadek zawarty w tych funduszach, musisz skontaktować się z reprezentantem każdego z tych funduszy i określić swoje dziecko jako spadkobiercę.
- Pamiętaj o pasierbach lub przybranych dzieciach
Jeżeli masz pasierbicę/ pasierba lub przybrane dzieci, które wychowujesz jako swoje, nie mają oni automatycznego prawa do odziedziczenia Twojego majątku, jeżeli nie zostali określeni w testamencie. *
- Dodatkowy punkt: umów się na przegląd swojego testamentu
Zalecamy przegląd testamentu co najmniej co 5 lat. Pozwoli Ci to zastanowić się czy osoby, które wybrałeś na opiekunów dla swoich dzieci wciąż są odpowiednie oraz czy Twoje wytyczne odzwierciedlają sytuację rodzinną. Testament można łatwo zmienić, a w kancelarii My Local Solicitor szczycimy się budowaniem mocnych relacji z naszymi klientami, pomagając im w życiowej podróży.
UWAGA: sytuacja może się zmienić w mgnieniu oka, więc ważne jest, aby Twój testament odzwierciedlał obecną sytuację. Na przykład, w przypadku zawarcia nowego związku małżeńskiego lub prawnego związku partnerskiego, obecnie obowiązujący testament jest automatycznie unieważniony.
Artykuł ten zawiera jedynie informacje i nie stanowi porady prawnej. Może chciałbyś umówić się dzisiaj na darmową konsultację z jednym z naszych adwokatów? Prosimy o telefon pod numer 01244 478 730 lub wysłanie emaila na adres hello@my-local-solicitor.com
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Family Businesses – Why is it important to put things in writing?
Family Business- Why is it important to put things in writing?
Family businesses account for nearly two thirds of businesses in the UK and are often considered to be the backbone of the economy.[1] There are many benefits and drawbacks to starting a family business, especially when it comes to making big decisions. Unless roles and responsibilities are clearly defined, there are risks of disagreements occurring which could be detrimental in the long term.
What is a family business?
Although there is no set legal definition on what a family business looks like, it is commonly acknowledged that a family business encompasses three elements:
- the family owns a majority of the voting shares or effectively controls the business and
- one or more family members (or their spouses) are involved in the management of the business and
- more than one generation is, or will in future, become involved in the business.[2]
Benefits of a having a family business
Loyalty- As you are likely to go through ups and downs in a business, strong family ties means that members of your family are able to support you through the hard times.
Costs- It may be that family members are willing to accept lower wages and make some sacrifices for the sake of the business. This is really valuable in cases of financial crisis as you know that your family is here to help.
Commitment- A successful business takes time and requires employees to go above and beyond to strengthen it. Family members are likely to put in longer hours to make this happen and adapt to a flexible way of working if needed.
Drawbacks
Conflict- This is one of the biggest issues in family businesses and it can lead to major setbacks if not handled carefully.
Succession- It may become difficult to decide who will take over the family business and this may lead to fights between siblings or other members of the family. It is important to look at this objectively and choose who has the most appropriate qualities and experience to lead the company forward.
Lack of expertise- At times you may find that family members are appointed to senior positions but aren’t qualified for the role. This can cause serious conflict between junior staff and colleagues, especially those who aren’t part of the family, leading to a stressful work environment.
The importance of written agreements
Shareholder agreement
- This is a contract between the shareholders of a business that aim to provide a form of protection concerning ownership.
- This is a private piece of document that outlines the board of directors, voting rights, value of shares, transfer of these shares, dividends, dispute resolutions along with other areas of the business practice.
Partnership agreement
- A partnership agreement governs major aspects of the business and how it is run. This includes partnership shares, property, terms for termination, terms which protect your interests, voting and other rights and responsibilities.
- This type of agreement is suitable for members of a family that are looking to start a business e.g. brother and sister or groups of friends working together.
- Without an agreement in place, the provisions of the Partnership Act 1890 will apply which may be unfavourable for some family members in the business.
The main difference between these agreements is that the shareholder agreement is mainly associated with a shareholder (someone who has an investment in the company), whereas a partnership agreement covers terms related to a partner in the business (a friend or family member that helps run and operate the business).
How can MLS help?
My Local Solicitors Ltd are experts in getting family businesses off on the right foot. Our business solicitors proved flexible, cost-effective legal advice to help you identify your legal requirements and grow your family business the safe and legal way.
Get in touch on 01244 478 730 to discuss our essential legal documents package.
Why not start with our essential legal documents package which includes:
- A consultation with a solicitor.
- Terms & conditions of business.
- Confidentiality agreement.
- Consultancy agreement/employment contract.
- One round of amendments.
- Final documents.
This article is for information purposes only and legal advice should be taken for individual circumstances.
[1] https://realbusiness.co.uk/uk-family-businesses
[2] https://www.ifb.org.uk/media/1351/nxg_ufb_final.pdf
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What is a Business Lasting Power of Attorney (BLPA) and why are we raising awareness of it?
What is a Business Lasting Power of Attorney (BLPA) and why are we raising awareness of it?
A Business Lasting Power of Attorney is a legal document that allows a business owner to appoint someone they trust (an Attorney) to make business decisions for them if they are unable to act themselves (for example because of illness or a car accident).
Appointing a business Attorney, which I will refer to as a ‘Business Guardian’, means that even if something unforeseeable happens to the owner of the business, the company can still legally function until the owner/director gets better.
I don’t have an LPA for my business. Why is this risky?
If you are unable to make business decisions due to illness or accident, unless you have appointed a ‘Business Guardian’ to deal with your business during your absence, the cost and disruption to your business could be enormous. For example:
- The business’ bank account could be frozen leaving your employees, suppliers and other outgoings unpaid.
- An overdraft could be recalled and the ability to enter into future contracts could be lost.
- The existing contract could be void or voidable making the company open to legal challenge.
- Confidence in your business could be lost very quickly affecting future business relationships.
- Important: if you are one of the directors in a limited company, you should consider appointing a Business Guardian as your fellow directors are no longer allowed to remove you from decision making due to the lack of mental capacity which often brings matters to standstill.
Why not just let the Court deal with things?
- If you have not put in place a BLPA and lose mental capacity, then a “Deputy” would need to be appointed by the Court of Protection.
- This is a very costly process but more importantly it takes on average 6 -12 months to get someone appointed by the Court.
- The business owner would have no input into the selection and appointment of the Deputy and how the Deputy runs the business.
Okay, it sounds like a reasonable thing to have, but what’s in it for me?
There are several advantages to getting your business’s legal basics in order.
- Although, BLPA is mostly used in the event of a business owner losing mental capacity, it can also be used (with the owner’s permission) while they are fit and healthy but want someone else to look after their business for a while (long holidays, succession planning, testing how children cope with running the business etc). BLPA can become a very useful tool and as such it affords flexibility to business owners.
- When a valid BLPA is in place business owners send clear signal to their investors and clients that if anything unforeseeable happens to them, as far as they are concerned, it is business as usual.
- Most importantly BLPAs provide the business owner’s family and employees with peace of mind.
Is an LPA for business tax deductible?
Absolutely, obtaining a business LPA is a valid business expense.
What if I change my mind about the person appointed to be my business Guardian?
BLPAs are very flexible documents. You can specify when and how you would like your ‘Business Guardian’ to act. You can cancel your existing BLPA and/or create a new one at any time providing you have mental capacity.
So, how does it work?
Creating a BLPA with us is easy! It starts with a mini business audit which usually takes one hour. We will take your instructions, advise you accordingly and draft the relevant documentation. We will also provide the necessary certificates and help with execution of the prepared documents. If required, we will also apply for the registration of the LPA on your behalf.
This article is intended to provide a general overview and is not a substitute for professional advice.
Call us on 01244 478 730 for a free no obligation chat.
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Business legal basics – What you need to know before setting up your business
Business legal basics – What you need to know before setting up your business
Starting a business is an exciting journey but it can also become overwhelming. According to Business News Daily’s advice for startup founders, one of the biggest mistakes a company can make is not registering their business. There are many legal aspects to consider, some of which include: Choosing the correct business entity, filing for registration, choosing insurance, data compliance, trade mark searches, principles of equality, health & safety and reporting to HMRC.
Sole trader vs Limited companies vs Partnership
Before you can register your business, it may be a good idea to sit down and think about what business entity would suit your vision. For example, if you are thinking about setting up a small online business, it could be better register as a sole trader. This way you get to keep all your profits after tax but it also means you will be entirely responsible for any losses that the business makes. There are a number of questions to ask yourself and a great place to start is to speak to one of our experienced and qualified solicitors who will be able to guide you through the rest of this exciting process safely and effectively.
Registering your business
You can apply to register your business here once you have all the details of how you wish to run your company.
Insurance
Depending on the nature of your business, you may need to obtain several insurance products. It’s vital for instance to have adequate insurance in place in case something happens to an employee whilst working. Employers’ liability insurance can cover for any claims made against your business and it is a legal requirement to have this in place. Without this insurance, an employer could be faced with a daily fine of £2,500.
Business Lasting Power of Attorney
It is important to ensure that your business can legally function without you (in case of an accident or illness). You can download our free guide on BLPAs here.
Data compliance
Smaller companies are also required to comply with UK data law such as the GDPR. For example, if your business stores customers’ personal data, you must ensure you have sufficient IT security to prevent the data being hacked. You must also show that the information is obtained legally and is dealt with fairly. For further information on how your business needs to comply with the principles of GDPR, please fill in the form on our website and one of our solicitors will get back to you.
Employees’ right to work and other checks
This encompasses a range of issues such as:
- Proper documentation e.g. right to work
- DBS check
- A written statement of terms and conditions
- Employees must be paid the National Minimum Wage
Principles of equality
Under the Equality Act 2010, employers must avoid discrimination and promote equality of opportunity. This means it is unlawful for employers to discriminate against anyone on the basis of certain protected characteristics e.g. gender and ethnicity to name a few. Care must be taken when writing job descriptions, hiring and holding exit interviews to ensure potential and existing employees feel supported throughout the process.
Health and safety
Where a business has five or more employees, it is mandatory to have a written health and safety policy in place. As an employer, you are responsible for the safety and wellbeing of your employees which is why carrying out a risk assessment is important. For further information on how to go about this, check out a helpful guide here.
Reporting to HMRC
A successful business needs a good payroll, this will allow it to keep track of wages paid to employees and other information which can be used to report to HMRC. Certain changes to your business need to be reported, such as hiring a new employee or any PAYE deducted.
Without accurate information, a business can be given a penalty which can affect its reputation in the market.
At MLS, we work with clients to ensure that all legal aspects of their business are covered and that they are fully supported through their time with us. Our consultant solicitors have years of experience working in various sectors, which means they have specialist knowledge to provide all round service.
This article is for informational purposes only and does not constitute legal advice. To book your free initial consultation, please call on 01244 478730.
The Reintroduction of Fitness for Human Habitation test
RENTING HOMES (WALES) ACT 2016
The Reintroduction of Fitness for Human Habitation test – 15th July 2022!
The Renting Homes (Wales) Act 2016 sets outs the obligations placed on a landlord with regard to the condition of a dwelling.
The Act applies to all occupation contracts made for a term of less than seven years.
Properties must be compliant with the fitness for human habitation test from 15th July 2022.
A landlord must ensure a dwelling is both in repair and fit for human habitation (FFHH) not only. at the start of but during the length of the occupation contract.
A court will consider each particular case on its own merit.
A landlord who has concerns about the fitness of a dwelling is advised to seek professional advice before issuing an occupation contract.
Landlord’s obligation to keep the dwelling in repair
The property must be kept in repair and a landlord has a legal obligation to ensure that :
- the structure and exterior of the dwelling (including drains, gutters and external pipes), and
- the service installations in the dwelling, such as those:
- for the supply of water, gas or electricity,
- for sanitation, and
- for space heating or for heating water
are kept in a repair!!!
As soon as the landlord is aware that repairs are required THEY MUST BE CARRIED OUT TO A REASONABLE STANDARD!.
The landlord must make good any damage resulting from the repairs.
The landlord cannot place any obligation on the contract-holder regarding the repairs, for example contributing to the cost, where the repair is not the fault of the contract-holder.
The Renting Homes (Fitness for Human Habitation) (Wales) Regulations 2022 (senedd.wales) sets out the 29 matters and circumstances when determining whether a property is FFHH.
Part 1 of the guidance addresses each of the 29 matters and circumstances listed under the Schedule to the FFHH Regulations. The fitness test is determined by having regard to the 29 matters.
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Part 2 of this guidance deals with specific requirements placed on the landlord as part of the FFHH Regulations, in order to help ensure that some of the 29 matters and circumstances do not arise.
Landlords should already be familiar with the Housing Health and Safety Rating System (HHSRS).
These regulations detail the hazards associated with a risk of harm.
It is important to note that irrespective of whether a hazard as set out in Schedule 1 to the HHSRS Regulations exists is not a pre-determination of whether a dwelling is unfit for human habitation.
MLS
Here at MLS we are regularly instructed by landlords to advise on compliance and possession claims. If you have any questions please contact us on 01244 478 730 and we will be happy to help.
Useful Links
https://gov.wales/fitness-homes-human-habitation-guidance-landlords-html
This article is for information purposes only and does not constitute legal advice. Please contact us for advice.
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