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Assets Exposed to Attack
The following are risks associated with first death and subsequent deaths. Many people are unaware that even by having a will doesn't protect your legacy against the following predators! Long term care costs – those with assets are expected to pay towards their care costs. Creditors or bankruptcy - if the benficiary is subject to creditors or bankruptcy then the inherited estate is fully at risk. Divorce - If beneficaries are subject to divorce proceedings then half of what they have inherited is at risk to divorce settlements. IHT/Generational IHT - Inheritance if passed absolutely will be assessed for tax. All circumstances are different depending on whether you have assets above or below the nil rate band (325,000 for 2010-2011), whether you are married, unmarried, divorced, widowed, single and many other circumstances can effect the best possible solution for you. To find out the best solution for you and how to protect your assets......
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