Charles James Financial Planning is a family run business based in Dronfield, Derbyshire, England. We have a team of Experienced Financial Advisors who offer quality advice in Pensions, Investments, Mortgages and Protection.http://financial.charlesjames.com/en-ushttp://financial.charlesjames.com//favicon.icohttp://financial.charlesjames.com/3232http://financial.charlesjames.com/Content/links.aspxHere are some companies we are in regular contact with. Charles James Insurance Services Tel: 01246 296067 Fax: 01246 296061 Charles James Consulting Tel: 01246 296060 Fax: 01246 296061 Charles James Web Services Tel: 01246 296060 Fax: 01246 296061 Financial Services Authority 25 The North Colonnade, Canary Wharf, London E14 5HS Tel: 020 7066 1000 Fax: 020 7066 1099 DP Accounting The Accounting House, Sheepbridge Centre, Sheepbridge Lane, Chesterfield, S41 9RX Tel: 01246 451133 Fax: 01246 452642 Mortgage Portfolio 281 Old Hall Road, Ashgate, Chesterfield S40 1HJ Tel: 01246 202 571 Fax: 0870 622 222126 November 2009 15:25http://financial.charlesjames.com/Content/wills.aspxWhy make a Will?Are you or your clients like me – always going to do something next week when they get a free moment? Unfortunately that free moment very often doesn’t come around. Making a will or reviewing an existing one can be like that with the reasons for not doing so many and varied. Why is it important to make and regularly review a will?· It is the only way that you can indicate who you want to benefit from your estate.· Unmarried partners may not benefit if there is no will.· If you have minor children, you can indicate in a will who you would like to look after them should you die. This is particularly important where a relationship has broken up and the relationship between the individual and former partners is not good.· If you circumstances change it is important to make sure that your will reflects your new circumstances.· Making a will can mean a different inheritance tax (IHT) treatment of your estate or a change in the way that assets are assessed for means tests purposes should you need long term care.What happens if I do not make a will?You will die intestate. The rules of intestacy are different in different parts of the UK so it is important to keep up to date on the current position as this can change. The rules of intestacy may mean that the people you want to inherit from you don’t or in a different proportion from what you would want.This is particularly important in Scotland where there are things called prior rights and legal rights. Make sure you are aware of the position where you live and indeed if you have assets in another country. France has similar rules to Scotland with regard to prior and legal rights.Who can make a will?Everyone aged 18 or over (12 in Scotland) or a serving member of the armed forces can make a will if they are of sound mind. If you are serving in the armed forces and below the age of 18 you should take legal advice. Even people who are deemed not to be of sound mind can make a will or a codicil to an existing Will if approved by the court of protection.Do I have to use a solicitor to draft a will?You don’t have to use a solicitor but I would strongly advise that you do so or at the very least use an individual who specialises in drafting wills. This is especially true if your will is complex. Sorting out mistakes after you have died may cause huge problems for your executors/personal representatives.How much does it cost to get a will drafted?That depends on how complex your will is going to be. A top tip is to give some thought to what you want to happen to your estate before any meeting with an adviser. Who do you want to act as your executors? And always think about the ‘what if’ scenario: what if a chosen beneficiary predeceases me etc?It may be possible to get a cut price Will or some help towards the costs. There are however conditions involved – in many circumstances monetary assistance is means tested. Who are your executors and what are they expected to do?They will be responsible for carrying out the instructions in your Will and sorting out your estate. You will appoint them in your Will. You should consider appointing at least two executors and, in any review of your affairs, consider your executors. Consider carefully before appointing people older than yourself as they may predecease you. However, this could happen to anyone. Choose carefully as the job involves quite a lot of work and always consult you executors as to whether they would be willing to act in that capacity – they may not.Who can witness your Will?England and WalesAnyone who is 18 or more, is not blind and who understands what they are signing. There should be two witnesses who should sign the Will as witness in your (the person making the Will’s) presence. Their signature should be made after you have signed it and neither they nor the person to whom they are married or are a civil partner to can benefit from your Will although this in itself will not invalidate the Will. The Will should be dated though that is not necessary for the will to be valid. As soon as a Will is signed and witnessed it is valid. ScotlandSome of the rules are different in Scotland.· You must sign the will on every page though the witness need only sign on the last page below the signature.· The witness of your signature must be at least 16 and know you.· While the witness can a beneficiary under your Will, it is probably not advisable as it makes it more likely that the Will can be challenged.Can a Will be Revised?Yes it can. You can destroy your existing Will and draft another or add a codicil to your existing Will. A codicil should be witnessed in the same way as the original one but needs not have the same witnesses as the original. If any changes are substantial then a new one should be considered revoking the original (but not any ones dealing with assets in another country necessarily). Don’t make written alterations on the original copy of the Will – add a codicil or a make a new one. Remember to date any codicil and keep it with the original.Can I do anything to make my executors lives easier when I die?One of the most problematic things for executors is to find out what your assets are, where they are and how they are owned – for example are trusts involved or are any of the assets owned jointly? You might want to think about completing a dying tidily log, reviewing it regularly and keeping it with your Will so it is easily available to your executors.What should you do with regard to assets in other countries?It is generally a good idea to have separate Wills established in the country in which each asset is situated. It should be stipulated that the Will only deals with the property or assets situated in that country.When is a Will automatically revoked?A Will can be revoked by the provisions in a later Will or codicil – one of the reasons to make sure all Wills are dated. It will also be revoked if it is destroyed. If you make a new Will, make sure you include that this Will cancels all existing Wills in the UK and not involve any Wills in any other country referring to non UK assets.What happens if you marry?Under English law, a Will is automatically revoked on marriage unless it is specifically drafted in anticipation of the marriage. A Will is not automatically revoked on marriage in Scotland.It does make sense to review your Will if a change of circumstances such as this occurs – primarily to ensure that the current spouse is catered for. What happens if you get divorced?Legacies to an ex-spouse or civil partner are not automatically revoked under Scots law. As with getting married though, it again makes sense to review your Will then circumstances change dramatically like this.What happens if you have more children?Under Scots law if you have a child after you have set up a Will and there is no provision for that child in the Will, the child can ask that the Will be set aside, better perhaps to make a bequest to your current and future children. Such general phrasing could cause problems too however, if it is possible that you have children that people are not aware of.What happens if someone feels you haven’t made a reasonable provision for a child in your Will?In the UK (other than Scotland) you can leave your estate to whoever you want, although a spouse or dependant can put in a claim to the courts if it is though that insufficient provision has been made in the Will. This Is generally restricted to the degree of financial dependence on the deceased. In Scotland there are legal Rights and Prior Rights to consider. Whatever you may write in your Will, your widow, widower or children can apply for legal rights after you die. Even if an individual leaves everything to a surviving spouse for example, the children or children of a deceased child can claim one third of the moveable estate (money, shares etc). The children don’t have to make a claim for legal rights but if they do then the surviving spouse’s legacy will be affected. Even if a child is not able to claim, a share of the fund will be set aside for him/her until the age of 16 is attained. Legal rights would then have to be claimed within four years.Where should I keep my Will?The most popular places are as follows but bear in mind that some will charge you for storing your Will:· Your solicitor· Your Bank· The principal registry of the family division.· Yourself but make sure you let the executors know where it is kept.What should I do if I want a specific type of funeral or wish to donate my organs for transplant or research?You could write a letter to your executors explaining what you want to happen and tell them where they can find this letter when you die. Keeping it with your Will might be an idea but this may cause unacceptable delays as the Will may not be read until after the funeral.You may wish to discuss all this with your executors beforehand and direct them to read the letter as a priority should you die.Top tips for clients about Wills· If you don’t have a Will, make sure you know what will happen to your estate if you die without making one.· Be clear what UK laws apply – England & Wales, N. Ireland or Scotland.· Before making a Will, think about what you want to happen to your estate.· Before making a Will yourself, think about taking advice from a solicitor or professional Will Writer.· Review your Will regularly – particularly if any of your circumstances have changed.· Don’t try to change a Will by writing on the original.· Make sure your chosen executors are happy to act in that capacity. Make sure they know where the Will is kept and if there are any special arrangements you want them to carry out quickly on your death such as funeral arrangements and organ donation. Time may be of the essence.25 January 2010 14:13http://financial.charlesjames.com/Content/business.aspxWe can help you plan, understand and arrange pensions for you and your employees which comply with your wishes and meets your current and future legal obligations.We can also help you to protect your business interests from the death or critical illness of fellow directors/partners or key employees.you may also want to provide your employees with other benefits such as death in service or private medical insurance. Our advisers are fully qualified and experienced in these matters.18 December 2009 10:42http://financial.charlesjames.com/Content/welcome.aspxCharles James Financial Planning is a family run business consisting of a successful team of Independent Financial Advisors.We specialise in making you, the client, the most valued part of our business, because at Charles James, your future is our priority. Dean Thorpe,CEO,Charles James Financial Planning Welcome to our Business Charles James is a well established family run business with many years of experience in the financial industry; our experience enables us to give quality, friendly and efficient advice to clients from all walks of life. With several younger advisers we are ideally positioned to continue advising clients across all areas of the financial market place for the current and next generation. We understand that in the current economic climate making a financial decision isn’t going to be easy, as with everything you want some reliable information and guidance before making a commitment. That’s why Charles James offers a free initial consultation to all new prospective clients in order to ascertain how best we can work together. It’s always a good idea to keep in regular contact with your financial consultant. Arrangements should be made to have a review of your entire investment portfolio regularly and certainly every 2–3 years. Charles James’s main office is based in Dronfield, Derbyshire with a smaller office in Barnsley, South Yorkshire.16 October 2009 17:48http://financial.charlesjames.com/Content/recomendation.aspxasdasd12 November 2009 19:41http://financial.charlesjames.com/Content/about_us.aspxCharles James is a well established family run business with many years of experience in the financial industry; our experience enables us to give quality, friendly and efficient advice to clients from all walks of life. With several younger advisers we are ideally positioned to continue advising clients across all areas of the financial market place for the current and next generation. We understand that in the current economic climate making a financial decision isn’t going to be easy, as with everything you want some reliable information and guidance before making a commitment. That’s why Charles James offers a free initial consultation to all new prospective clients in order to ascertain how best we can work together. It’s always a good idea to keep in regular contact with your financial consultant. Arrangements should be made to review your entire investment portfolio regularly and certainly every 2–3 years. Charles James’s main office is based in Dronfield, Derbyshire with a smaller office in Barnsley, South Yorkshire. For those who are unable to get to one of our office’s there is a home visit service available, so all of our clients are able to review their investment portfolios on a regular basis. We know that sometimes a client may have a question about their finances in between their scheduled reviews. To ensure that no question is left unanswered, both offices have a dedicated administrative team working alongside the financial consultants that are willing to answer any questions you may have.12 November 2009 19:38http://financial.charlesjames.com/Content/savings_amp_investments.aspxDo you want to make the best use of your income and capital to help achieve future financial goals, or do you just feel that it is sensible to keep your money working.We will consider acceptable risk, term of investment and tax environment when making our recommendations to best suit your personal circumstances. Usually there are even portfolios available which allow you to take some risk whilst protecting your original investment at some point in the future.12 November 2009 19:38http://financial.charlesjames.com/Content/our_services.aspxHere at Charles James we aim to provide a service for everyone. We understand that investing money can be complicated even for the most experienced of investors, whether it be putting aside for the future, or saving towards something special. Finding the right mortgage can often be the most difficult part of buying a house. That’s why working with your Financial Consultant enables everything to be simple and stress free for you.12 November 2009 19:38http://financial.charlesjames.com/Content/mortgages.aspxBuying a house? Need a mortgage? With so many options available, let us here at Charles James Financial Planning take the weight off your shoulders and help you with probably the most important purchase you will ever have to make. We understand that for many people finding the right mortgage for them isn’t easy. Whether you’re a first time borrower or you’re looking for an improvement on your existing mortgage. It can be confusing and stressful with the mortgage market becoming increasing complex, and also knowing that your home may be repossessed if you do not keep up repayments on your mortgage.Our advisers here at Charles James will work with you to figure out the best mortgage option to suit your circumstances and find you the perfect mortgage to match that perfect home.12 November 2009 19:37http://financial.charlesjames.com/Content/pensions.aspxAs most of us ‘Work to Live’ and don’t ‘Live to work’, once you’ve decided when you want to retire, we want to help you live it. With so much extra time on your hands, you may choose to take extra holidays, or take up an expensive hobby, but one thing for certain is you will want to have peace of mind that your pension won’t be holding you back or leaving you with financial difficulties. The Aim is to have a Pension which will provide you with approximately a half to three quarters of your current salary. So the sooner you start saving towards retirement, the sooner you can enjoy the benefits of your forward planning. You may be wanting to set up a new pension or wondering about all the different pension 'pots' that you now have. You may be approaching your retirement date, there are many options available , some of which you may not be aware of. We will discuss your retirement plans and tailor our advise to your specific circumstances.12 November 2009 19:37http://financial.charlesjames.com/Content/protection.aspxProviding financial security for you and your dependents in the event of death, illness or accident is cost effective and reassuring.We can advise on a range of life assurance, critical illness cover and income protection plans.Our team of advisers will work with you to identify your specific needs, and find policies to ensure that you or your family will not be left struggling financially if anything was to happen to you or you income.12 November 2009 19:37