Cloud 9 Estate Planning Services


We work with a variety of well established Estate Planning practices around the UK.

We operate throughout the United Kingdom, and, have an administration office in Glasgow City Centre, and, from a satellite office In Manchester which services the England and Wales regions.

We work closely with our specialist panel of appointed Solicitors and Financial Advisers throughout the UK embracing all aspects of successful planning of our client’s assets and estates for the future benefit of their nearest and dearest.

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Services we offer our Clients

  • Wills
  • Powers of Attorney (Lasting Powers of Attorney - LPAs)
  • Lifetime Trusts
  • Bespoke Estate Planning Solutions
  • Mortgage Discharge
  • Title Deed Transfer
  • IHT Planning
  • Equity Release
  • Investment Specialists
  • Pension Review Consultants
  • Life Assurance
  • Funeral Plans

Our job is to listen, advise, and, assist the arranging of your asset protection strategy in conjunction with our partners to allow you access to a one stop solution for all your Estate Planning needs.

Wills


Making a Will could be described as one of the most important financial decisions you are likely to make in your lifetime. Here at Cloud 9 we want to make this as easy, and stress free as possible. We can offer an online Will service that means you don’t have to make an appointment as it can be all done over the phone.

writing a will
Your Will
  • Sets out the Legal Process to “settle” your estate known as Probate or Executory.
  • Allows you to document your beneficiaries, and, how much each will receive according to your wishes.
  • Assists with provision for the people you care most about.
  • Details any preferred Guardians for your children.
  • Can help to avoid family fallouts, stresses and unnecessary costs.
your will
I Already Have A Will
  • Have there been any changes in circumstances, perhaps recent family births, deaths, marriages or divorces.
  • Has Estate Legislation changed which may have an adverse effect on your declared wishes.
  • Maybe your financial status has changed since your Will was written, you also may need to change or appoint new Executors.
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  • Those who wish to benefit most from your Estate may be ignored.
  • The expense of court costs may be a burden on those you love the most.

Power Of Attorney


By the time you need a Power of Attorney, or lasting Power of Attorney, it is normally too late, and this should be arranged at an earlier time in your life when you may feel you don’t need one. Cloud 9 Money Solutions offer this service in the same way as you would set up your Will, we would have one of our consultants call you and go over the P.O.A. with you. When we have everything we need from you, we would process it and sort out the paperwork for you. This makes things stress free and done quickly and efficiently.

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Exactly what is a Power or Attorney or LPA?

It is an incredibly powerful legal document that allows you to appoint a trusted person or persons to aid in financial matters and make decisions on your behalf in relation to your healthcare and welfare. Your P.O.A., along with your Will are one of the most important legal documents you can get and for it to be done professionally is imperative to your future and at Cloud 9 we guarantee you that we can have this done.

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When should I set up a POA or LPA?

We can’t stress enough that this should be set up at the earliest opportunity, as none of us know exactly what may be around the corner, for example you may suffer from an accident, or fall victim to an unforeseen illness. If you are unfortunate to suffer from symptoms relating to Alzheimer’s disease or Dementia it may already be too late to set up a P.O.A.

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What happens if I don’t have a POA/ LPA in place?

  • You won’t be able to access Bank Accounts, Savings and Investments.
  • You may not have authority to sell your property.
  • Irrespective if you are single, married or in a partnership, your family and friends would not have authority to assist in financial matters, even simple day to day banking.
  • If you suffer any health – related issues instead of your family making decisions on your behalf the authorities would.
  • Without a P.O.A. in place your family would need to arrange a ‘Guardianship order’, which could take up to a year to finalise, and could cost as much as £3,000 to arrange.

Trusts


You have worked all your life and made investments either with your home or amongst other things, here at Cloud 9 we urge you to make sure your take control of all your assets you have worked so hard for and protect them with a Lifetime Trust.

As we approach later life it becomes increasingly important that all the assets we have worked so hard to build up are protected for the remainder of our lifetime, and, if needed beyond. These assets would typically include our property, savings and investments.

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Exactly who do you want to inherit?

When would you like them to inherit?

Is there someone you would prefer not to inherit from you?

In most typical family circumstances, a standard Will would not be enough to ensure:

  • That the correct people receive their correct inheritance
  • That they inherit what you wanted them to inherit
  • They inherit at the right time
  • Your estate is not reduced dramatically in value due to Inheritance Tax Issues

In order that we can avoid the risk of serious threats to our assets we should put arrangements in place so that our assets are distributed exactly according to our precise wishes when we do eventually die.

If you decide to do nothing this will mean that if any of these circumstances were to happen, then your assets would be at risk! A Lifetime Trust has the potential to solve most, if not all, of these problems.

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  • Executor Costs - Did you know Executory/ Probate costs can average £5000 for the simplest estate and can be even more depending on the value of your estate.
  • Legal Rights - Your Spouse, Partner or Children may have a legal right to claim against the value of your estate.
  • Legal Claims - Your assets may be subject to a legal claim from an outside authority, and, your beneficiaries may suffer from a greatly reduced inheritance as a result.
  • Family Disinheritance - If your Will is not reviewed on a regular basis those intended to benefit from your estate may not inherit what you intend for them.
  • Inheritance Tax - Failure to properly plan ahead could result in your family or your intended beneficiaries being burdened with an unnecessary tax liability.
  • Incapacity - If any of your intended beneficiaries were to lose capacity to make decisions for themselves, then they may receive your inheritance at a time when they are at their most vulnerable.

Many people think that by transferring assets (gifting) to someone else that these assets will be protected under law. It is an unfortunate fact that by doing this all you are doing is losing control of your assets, and, are then at the mercy of the person receiving these assets- who may then subsequently lose the transferred assets by way of their own issues such as divorce, bankruptcy, incapacity or death. Possibly even worse, through selfish reasons, they may choose to do something else with the assets. If this were to happen during your lifetime this could result in you being put out your own home.

If you are unfortunate enough to require long term care, the Local Authority will look at the value of all your assets, this will include your home and any joint assets owned. This will be done to calculate how much if any contribution you will have to make towards your care costs.

If you are married or are in a civil partnership then you cannot be forced into selling your home, however, the council may put a charging order against your property. What this means is that when the property is sold, or indeed when your partner dies, then the council will recoup the cost of the care contribution owed to them from the sale of your property.

A Lifetime Trust may avoid these issues if the Trust is put in place at the right time for the correct reasons.

Note- Any Trust benefits in relation to care home charges will only ever be incidental, Local authorities have very wide-ranging powers which may overlook any arrangement that has been put in place where the principal reason for such an arrangement is for the avoidance or partial reduction in care home costs.

What do I do to set up a Lifetime Trust?


This is normally a 3-step process, but many times it can be done quicker!

Step 1

An Estate Planning Consultant will contact you for a free impartial assessment of your exact circumstances. You will receive a thorough and detailed explanation of how the Lifetime Trust works, and, all the associated benefits will be fully explained to you. A detailed fact find will be completed, and, will be prepared tailored to your individual and unique circumstances. This will include details of all your assets and will include all assets to be transferred into your Trust. This paperwork will be the basis of the Legal paperwork which is then drawn up.

Step 2

Is the part of the process when we have a face to face meeting, at your convenience to discuss the points that matter most to you.

A nominated Solicitor from our panel will then be instructed to formally register your Trust, and, they will ensure that all your agreed assets are transferred into your Trust. The Solicitors will act as your professional Trustees, and, will act as such throughout the lifetime of your Trust. You will receive copies of all documentation.

Trusts - Faqs


  • Why should I bother with the hassle of arranging a Trust?
  • When is the best time to set up my trust in that case?
  • Is there a limit to the value of my assets I can put in my Trust?
  • What assets can I transfer into my Trust?
  • How does a trust benefit my family?
  • If I put my house in to Trust am I still able to sell it?
  • I have a mortgage, does this make a difference?
  • What happens to my Trust if I lose mental capacity?
  • What happens upon my death?
  • Am I allowed to change my mind?
You are right, you don’t really have to do anything, however, if you do nothing you may lose a significant part of your assets, including savings and investments.
As soon as you possibly can- the time to do it is when you are in good health, living independently, with no immediate prospects of long term care.
There is, each Trust would usually hold assets up to the value of £325,000, the current Inheritance Tax Nil Rate Band. Assets valued more than this would create a charge to lifetime Inheritance Tax of any excess. However, we can assist with options that are currently available to protect your assets if your estate value exceeds this.
Clients would normally place their house and any other assets into a trust, normally in the shape of Capital Investment Bonds.
The benefits of setting up your Trust is that you can assist your beneficiaries, and, Executors, to avoid the expensive costs, delays, and, hassle involved in winding up your estate. If you only had a Will in place, and, your home was in your own name at the time of your death, then you would need a Solicitor to carry out all the executory and administration process, which can be both time consuming and expensive. On the other hand, if you had previously put your property into your Trust, the appointed trustees are able to deal with your house immediately, thereby avoiding the whole executory process, including the costs and delays. The same would apply to any other assets put in your Trust, meaning that your inheritance goes according exactly to the instructions set out in your Will.
Of course, the sale and purchase are carried out by your appointed trustees, your solicitor, and, of course yourself. The proceeds from your sale are retained within the Trust and are then used to buy your new home, this ensures your assets are protected always.
This should not be a problem so long as your remaining mortgage is less than £125,000 and the value of your property is not over £200,000 for a single owner or £500,000 for a couple.
All that happens are that the trustees remaining assume a new trustee who will normally be another family member. Normally, if you have arranged a Power of Attorney, then that person would likely become your new trustee.
Just as before, the Trust and all the protection it provides continues, until the time when it is appropriate for the trustees to transfer assets to the appointed beneficiaries, and, once this has been done smoothly and quickly, then wind up your Trust.
Of course, all the assets can be transferred back into your name any time you choose, however, there may be costs to putting this arrangement in place.

The strength of our Partnership is that we are here to help.

To Discuss your own situation in the strictest confidence, or, you just need advice, contact us and one of our expert Estate Planning Consultants will guide you through the process and recommend the appropriate course of action for your circumstances.