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Keeping the peace at Christmas – top tips for shared parenting over the festive season
Lauren Evans
The increase in the value of cryptoassets has undoubtedly contributed to the continued interest and adoption of this still relatively new asset class across organisations and individuals. The ease of purchasing, selling or transferring a cryptoasset has improved significantly over the last few years (and which has in part stemmed from the development of the regulatory environment). However, there is still a technical barrier to entry. This presents a practical problem; if your assets pass to your loved ones on your death, how do you ensure that they are able to actually access and benefit from any cryptoassets that you hold?
Having poured blood, sweat and tears, not to mention money and time, into building a successful business, the loss of mental capacity of a shareholder, director or partner could be devastating for a business and that person’s wider family unless the necessary safeguards are put in place for these key individuals.
As a business owner, you need to think about what would happen to your business if you were unable to make decisions – would someone be able to authorise payments or enter into contracts and keep the business running day-to-day? If not, fundamental business decisions may not be possible and, within a very short period of time, the business may no longer be able to trade. This can have adverse consequences for your family finances if they are reliant on income from the business.
As family lawyers, we are used to meeting our clients at a time when they are at their most vulnerable. This is intensified when addiction is present within a family. Divorce or separation places an added burden upon everyone involved and those individuals are likely to have experienced or still be experiencing the destruction that addiction can cause, some of it obvious and some of it less so.
Being alive to the particular challenges which may present themselves in a divorce involving addiction is essential but this should be balanced with an understanding that the issues are likely to be different for each client and for each family.
We increasingly encounter situations where a vulnerable person may have been financially abused by a third party. A recent study by STEP found that financial abuse is increasing and it is most prevalent where there is uncertainty about whether a person lacks capacity or their decision-making ability is in decline.
Supporting a loved one with capacity issues can be very challenging, as well as emotionally distressing. In this article we explore some practical considerations and offer tips and advice to support a loved one in these circumstances.
Lauren Evans
Roberta Draper
Christopher Perrin
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