One of the challenges with writing these is not so much finding something to write about, it’s that there is so much I could write about! I know what excites.
Read moreMonday Musings 03/04/23
It’s never really that quiet a news day anymore, is it? But America is frankly a-buzz with updates on the Trump indictment (and indeed Disney – of all things – pulling a breath-taking legal fast one over Trump’s closest Republican rival DeSantis) And rightly so. No matter what your opinion on the man and the arraignment it’s fair to say this is a historic moment. Aside from anything else, Trump has already spent millions of Republican donor dollars in legal fees and goodness only knows how many more will be required to get him through the next round of court room battles. His worries aren’t going away any time soon. It makes Boris’s reported £200,00 plus of taxpayer money to fund his Partygate legal fees pale in comparison.
But does this have an affect on the markets? So far, not really. A few stocks have sored – and when I say a few, I mean it. All of three stocks with ties to Trump, according to news sources. But overall, the market’s behaviour continues to be impacted by the global economical and political situation, not one man’s troubles.
So, what do I really want to talk about this week? Actually, I want to address a concern I’ve seen a lot of over the last few weeks with my clients on the Estate Planning side of the business, and has even been covered by Martin Lewis recently. Estate Planning covers your Wills, Trusts, and Powers of Attorney. And its Powers of Attorney I want to talk about today.
I’ve encountered a number of clients recently who have the old Enduring Powers of Attorney in place, but not the current Lasting Powers of Attorney (or LPAs). What’s the difference? Well, the older Enduring Powers of Attorney grant your attorneys permission to manage financial matters for you. If you have them, they are still valid. But they can’t be used until they are registered, and you can’t register them until you need them. Let me say that again. They can’t be used until they are registered, and you can’t register them until you need them. Registration is currently taking around 20 weeks.
LPAs on the other hand can cover both financial decisions and medical decisions if you get both documents done, and can be registered immediately so they are ready and your attorneys can step in and act for you in any emergency. Registering an LPA is relatively easy. Registering an Enduring Power of Attorney is a faff.
A quick google of Kate Garraway and LPAs gives you a striking case study of why LPAs are not just for the elderly. Do you, or your parents, have these in place? If you don’t, and you need them, your family could be facing a legal procedure with the Court of Protection to become your deputy and then Trump would not be the only one facing a legal headache they could do without.
So, to the markets:
30.12.2022 | 03.04.2023 | % Change | % Change on week | |
FTSE 100 | 7451 | 7631 | Up 2.41 | up 3.06 |
Dow Jones | 33147 | 33274 | Up 0.38 | up 3.22 |
Nasdaq | 10466 | 12221 | Up 16.76 | up 3.37 |
S&P | 3839 | 4109 | Up 7.03 | up 3.48 |
NIKKEI | 26094 | 28041 | Up 7.46 | up 2.3 |
Hang Seng | 19781 | 20400 | Up 3.12 | up 2.43 |
Shanghai | 3089 | 3272 | Up 5.92 | up 0.22 |
CAC 40 | 6473 | 7322 | Up 13.11 | up 4.38 |
DAX | 13923 | 15628 | Up 12.24 | Up 4.49 |
Not all of its bleak out there. Sometimes we hear good things in the press. Ok, not often. But sometimes. For example, news came in the press recently that the.
Read moreREMINDER: Last call for pre-registration for the Webinar Thursday 30th November 10am Pre-registration link is here: https://event.on24.com/wcc/r/4415548/1FE19490B28856477CC82CC544A090D0 N.B. The webinar will be recorded, so if you cannot attend but.
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