Selling a property to downsize

Downsizing is, at its most simple, moving to a smaller property. People often associate downsizing with retirement, although it can appeal equally to active empty-nesters attracted looking to release some of their equity. Whatever your age, there are advantages and disadvantages to downsizing. It is a big decision, with lots to consider. So, it is important to plan well ahead and get the right professional advice from the start. The pros and cons of downsizing If you are uncertain whether downsizing is for you, it can help to make a list of advantages and disadvantages, which you could then discuss with friends and family. For example: Downsizing could help you stay independent longer, and many older people choose to buy a bungalow or an apartment with this in mind. It could provide surplus sale proceeds…

Adoption rights; what employers need to know

According to the charity Adoption UK there are nearly 3,000 children in care waiting to be adopted, and as charities seek to raise awareness of this during National Adoption week (17-23 October 2022), employers may get questions about employment rights related to adoption. Kalpesh Nakeshree, Head of Employment law with Ware &Kay explains how ‘Family-friendly employment rights support employees adopting looked-after children, as well as children adopted through surrogacy arrangements or from overseas. Although employment rights for adopting parents lagged behind those of a biological mother, adopting parents now have broadly the same entitlement to leave, pay and legal protection.’   Who is entitled to adoption employment rights? An employee may be adopting on their own, with a spouse, civil partner or in an unmarried couple, whether same or different sex. Adoption employment rights apply to…

Protecting your assets against the impact of relationship breakdown

Cohabitation Agreements The data from the ONS shows that in 2019 the number of marriages decreased by 6.4% on the previous year.  The figures also show that in 2019, 18.4% of families were cohabiting couples.  That figure rose to 22.9% in 2021.  It seems that more and more couples are choosing to live together as a form of commitment rather than getting married.     There is a common misconception that couples who live together automatically become ‘common law’ spouses, especially if they have children or property together.  Many believe that they have the same rights as a married couple.  Unfortunately this is not the case, irrespective of the length of their relationship.  So what happens to the parties’ assets on separation?  At present, where there is property owned by one or both of the parties, cohabiting…

Litigation fixed costs: what are they and how will it affect your dispute?

On 6 September 2021 The Ministry of Justice confirmed that it intended to implement proposals for fixed recoverable costs for ‘fast-track cases’ and in most money claims worth up to £100,000. How will that impact on claims in the civil courts? Since the 2021 announcement progress in implementing the new costs regime has been slow but it now seems likely that fixed costs for most claims worth up to £100,000 will be coming next year and some commentators predicting that the fixed costs regime will be extended to cover cases up to a value of £250,000, possibly within the next 5 years. What are fixed costs? The proposals are intended to ‘fix’ the amount of costs that a successful party can recover from a losing party. Historically a successful party awarded their costs nearly always suffered…