Buying a property for student accommodation

If your son or daughter is heading off to university, you may be thinking about their accommodation. With student rents averaging nearly £7,000 a year, you may also want to help financially. For some parents, the solution is to buy a property for their child to live in while studying and possibly to rent spare rooms to fellow students. But is this a good idea?   ‘It really depends on your personal circumstances, and what you want to achieve,’ says Holly Stevens, Director & Head of Residential Property with Ware & Kay in York. ‘Investing in a property in a university town could free your child from any accommodation worries while they are studying. However, you will find there is a lot to consider before you buy, and while you have students as tenants.’ Property…

Talking ‘off the record’ and settlement agreements

‘Using a settlement agreement to bring an employment relationship to an end, and effectively wipe the slate clean, can be very useful. But, to start the conversation, employers need to be able to speak off the record,’ says Kalpesh Nakeshree, Head of Employment Law with Ware & Kay in York, Wetherby & Malton. ‘There are ways that this can be done, but employers need to take care and be aware of a few limitations.’ Kalpesh explains what settlement agreements are; when discussions are ‘off the record’; the benefits of a settlement agreement and off-the-record conversations. He offers a word of caution and tips on strengthening your bargaining position, and takes a quick look at non-disclosure agreements after the #MeToo campaign.   What is a settlement agreement? A settlement agreement is a binding agreement to waive…

Preventing the dissipation of assets in divorce

  Divorce can often stir up feelings of mistrust between former spouses, especially when it comes to considering the financial division of assets.  Sadly, it is all too common that one spouse will try and dissipate matrimonial assets, either prior to a separation or during divorce proceedings, in the hope of minimising the amount of money that they have to provide to their former spouse. What is dissipation in the contest of a divorce? Dissipation of assets in divorce means that one spouse has sold, transferred, or otherwise disposed of property that should be taken into account when considering the division of matrimonial assets to arrive at a fair financial settlement.  Some of the common ways in which a spouse may try to dissipate assets include: transferring assets at an undervalue or for no value…

I’ve had a Dementia diagnosis, what should I do?

Alzheimer’s Research UK estimates that 944,000 people are living with dementia in the UK, with one in six people aged 80 and over at risk of developing dementia. It’s therefore likely that we’ll be affected by dementia, either directly or via a family member at some point in our lifetime. A dementia diagnosis can be devastating for a family, and understandably it takes time to fully digest the implications it brings. However, there are a few things that should be considered as soon as possible by the person receiving the diagnosis: Your papers – ensure all of your financial papers are in order and that your family know where everything is. Lasting Powers of Attorney (LPAs) – you should put in place LPAs. LPAs are documents which allow you to give authority to people you…