Dear , |
Welcome to the autumn issue of our Private Client newsletter, keeping you updated with a quarterly round-up of news from the legal world.
Did you enjoy a holiday abroad this summer? If so, you were amongst many thousands who did despite the state of the economy because apparently it’s one thing that the population has been determined to cling to, ditching other luxuries such as new clothes or evenings out in favour of a getaway to warmer climes. Avoiding the ‘Euro Zone’ was one thing that helped keep spending costs down; so if you have been waiting for the schools to re-open before taking your break, or have an autumn half term or winter holiday planned, it’s good advice to opt for a break somewhere like Turkey or Egypt where your holiday pound could stretch that bit further.
We hope you have found this newsletter interesting and informative. If you would like to discuss any of the issues raised - or need help with any other legal matter - please don't hesitate to get in touch.
Regards,
Too late for this year - Holiday Homes, EHIC Cards
But if you are heading off to Europe, have you checked the expiry date on your European Health Insurance Card (EHIC) lately? Make sure it’s valid for your future breaks; otherwise you could find yourself without access to medical care whilst holidaying in the EU.
Continuing the subject of holidays, are you a landlord of a furnished holiday home located in the EU? Changes were announced in the last Budget that mean you can now make the same types of claims that were previously only available for such lettings in the UK. Basically this means you could be able to claim tax repayments on any losses you have suffered, by setting the losses against your other income. The subject however is something of a minefield and options need to be considered very carefully, so be sure to contact us for advice before you enter into making any claim.
Insurance: the doctrine of ‘utmost good faith’
This is the concept of where “full and truthful disclosure is required” and it applies to insurance contracts, amongst other types of agreement. In a recent case covered on our website, an insurer paid out more than £72,000 on a claim. However, part of this claim was later found to be fraudulent as the insured had created a misleading invoice in support of alleged repair costs covering £42,000 of the claim. The insurer sought to reclaim the whole payment of £72,000 on the basis that the policyholder did not show ‘utmost good faith’. The court held that the claim was fraudulent but the insurer was entitled to recover only the £42,000 based on the false invoice because there was nothing misleading about the rest of the claim. In light of this, it is likely that insurers will amend their strategies and policy wording to cover the enhanced risks. Checking policy wording for any type of insurance is vital; if you need advice on insurance policies or claims, contact us.
Family Law – Wills & Pre-Nups
Often family members that have been ‘left out’ of a will believe they are entitled to make a claim on the estate of the deceased. In fact, anyone can leave their assets to any person they wish. A recent case covered on our website saw the niece and nephew of an elderly man make a claim because they suggested his will, that left the majority of his estate to two brothers who had been his friends for many years, was a forgery. Evidence was put forward however that the brothers had visited the man regularly whilst he had not seen his niece or nephew for some years, and his accountant testified she was told he intended the estate to go to the brothers. The importance of having a properly drafted will that can withstand scrutiny cannot be stressed enough. Have you made a will yet? Has your will been professionally drafted and is it up to date? If not, contact us as soon as possible for advice.
Back in July, British legal history was made when a German heiress saw her pre-nuptial agreement backed by the Court. Katrin Radmacher’s husband had been awarded some £5.6 million by a lower court after the couple divorced. However, he had signed a pre-nuptial agreement which waived his rights to his wife’s wealth should they divorce and this was recognised by the Court of Appeal which ruled that he should only receive about £1 million from her estimated £100 million fortune. A pre-nuptial agreement is not just designed for the wealthy; it can protect anyone and is a useful estate planning tool which could save money in the long term. To find out more about how a ‘pre-nup’ could benefit you, contact us.
Funny Bit at the End – Obituary of Common Sense
You may have seen this somewhere else, but it’s new to me and made me laugh out loud. On BBC Radio Stoke's Mid-Morning show a presenter called Stuart George mourned the death of 'common sense'. So many people asked for a copy of what he read out that it got uploaded onto their website.
Quote of the Month
“There is a harmony in autumn, and a luster in its sky, which through the summer is not heard or seen, as if it could not be, as if it had not been!”
