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What to consider when sharing assets during and after separation and divorce

Posted By Vanessa Gillbanks, Mrs, 13 December 2022

What to think about when trying to agree a financial settlement

One of the trickiest parts of getting a divorce, once the initial decision has been made to separate, is what will happen to the assets that you’ve built up during the marriage. It’s not always a simple as splitting everything equally; what is fair in a financial settlement? And what needs to be considered?

Here’s Gillbanks Family Law’s helpful guide to dividing up the family assets in a financial settlement.

married couple and images of financial assets for financial settlement

First, ask yourself what the family assets actually are.

It might seem obvious, but you probably have more to take into consideration than you think. Think about all of the things you’ve bought, acquired or preserved during the time you have been married. Don’t just consider obvious property like the family home, car or tangible assets. Think about other things like your bank accounts, any shares you both own, savings, investments and pensions. On another note, while considering the assets, don’t forget debts and liabilities either.

How can you be sure what the assets are?

It’s very important that you make sure you know exactly what there is, asset-wise, before you make any decisions about the financial settlement. Are you the type of person who keeps track of everything or are you the partner who prefers to keep your head in the sand? If you’re the latter, now is the time to get out of the habit and start making notes.

You might have a pretty good idea what there is jointly and who owns what individually, or you might not know much about your spouses’ finances. There can often be nasty surprises or things that you may have forgotten about.

Making ‘disclosure’ to each other.

Disclosure is a legal term that means exchanging documents with your spouse which confirm your income, property, capital and pensions. It’s also important that you both find out what mortgage capacity you have and what it might cost to purchase or rent an alternative property in the area that you want to live in.

“But I bought the house before we were married!”

The family home is considered to be a family asset, no matter who the legal owner is. If you’re in a situation where you or your spouse bought the property before the marriage, there may be an argument for one of you having made a greater contribution, but this could also be countered by other factors such as the needs of your spouse or other family members.

We know what the assets are

Once you know what you have, what else do you need to think about and how do you divide it all up? The starting point for the family court is ‘equal division’, but a court may still decide on a different ratio depending on factors such as:

  • The length of the marriage.
  • Any health issues the parties have.
  • The parties’ age.
  • Any income or likely income.
  • The parties’ individual needs and ability to meet those needs.
  • Any contributions they’ve made.
  • Ages of the children.
  • A difference in income and pensions.
  • What one party might lose due to divorce (specific attention to loss of pension benefits and income).
  • Any other relevant circumstances.

Division of marital assets can be a delicate balancing act. Even if there are other factors (like those listed above) the assets might still have to be divided equally. It all depends on the circumstances of the parties. One factor can often counter another and sometimes more weight and consideration will be given to one specific factor compared to another. Needs and contributions often compete against each other.

Assets that were owned before marriage or obtained after the end of the marriage won’t immediately be considered as family assets but may still be relevant to meeting needs in the future.

What can the court order?

  • Periodical payments
  • Secured periodical payments
  • Lump sum order
  • Property adjustment order
  • Pension sharing order
  • Pension attachment orders
  • Dismissal of claims

We have agreed a financial settlement – what next?

Even if you have reached an agreement about your finances, it’s still best to get legal advice about what you have agreed, so that you can make sure that you have covered everything. It’s also important to make sure that whatever you’ve agreed is possible for the court to order!

It’s advisable to convert any informal agreement into a formal financial remedy order approved by the court, however amicable you think your divorce is, because you won’t be able to enforce an informal agreement between you if one of you then changes your mind.

If you have agreed on a settlement based on a clean break, there is no dismissal of the claims unless they are included within a financial remedy order and you have obtained a decree absolute or final divorce order.

If you have agreed to share pensions this also can’t implemented without a court order, pension annex and a decree absolute or final divorce order. Make sure you have an order that covers everything you have agreed and that all the right steps are completed.

Need help sorting a financial settlement? Contact Vanessa Gillbanks at Gillbanks Family Law

Vanessa Gillbanks vanessa@gillbanksfamilylaw.com

Telephone 01206 299282 or 01473 937888

Mobile 07505360702

Gillbanks Family Law www.gillbanksfamilylaw.com

Facebook https://www.facebook.com/gillbanksfamilylaw

*Image credit - Adobe stock, used under licence.*

 

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Tips for a Clutter-free Christmas

Posted By Vickie Farrell, Professional Declutterer & Organiser, 12 December 2022

Declutteright - Tips for a clutter-free Christmas

It's beginning to look a lot like Christmas, everywhere we go.......... Isn't it just!

 

Christmas gives clutter a huge opportunity to infiltrate and take over our homes, leaving us feeling overwhelmed and disorganised. Don't get me wrong, I adore Christmas and love making our home festive with all the decorations. There is something special about this time of year when everything is all cosy and Christmassy. However, there are some parts of the Christmas holidays that can easily lead to having too much stuff in the home before, during and long after the big day.

So read on for some useful tips that can help you maintain some control over that Christmas clutter.

 

Christmas creates clutter

 

It can be hard to know what to get for people at Christmas time but worry not, as the retailers have mastered this market and have come up with lots of ideas for you. These tend to be novelty gifts such as Christmas branded items or books which quite frankly end up at the back of a cupboard or are even re-gifted the following year. Whatever way you look at these things, they usually end up as clutter somewhere in the home.

 

Well make this the year, the year where you rebel against the novelty gift and go for something that won't end up on the clutter pile.

 

So, what are the alternatives?

 

Some simple solutions can include:-

 

  • Food and drink as they tend to get consumed quite quickly. Just make sure you are getting something you know the person likes, otherwise they will get lost in the pantry until they are no longer good enough to eat.
  • Gift vouchers for places you know the person shops are also a great idea and can always be presented nicely if you want to turn up with something wrapped.
  • Restaurant vouchers are a good contribution to a night out or for those who can't get a babysitter, how about Take-Away vouchers.
  • Experience gifts can be more cost effective than you might think. These types of gifts range in price but you can usually find something within your budget. Cooking classes, gin tasting, afternoon tea, treatments, and theatre vouchers, the list goes on, just make sure you pick something that the person you are buying for will be able to use.
  • There are even experience options for kids such as vouchers to go to the trampoline or climbing park, bowling, the arcade or cinema.
  • TV Streaming, gaming and e-book vouchers are also good options that won't cause physical clutter and will definitely get used if the receiver is an avid reader, gamer or TV box set binger. You don't need to spend much on these things either.
  • Charity gifts are also a nice option such as sponsoring an elephant or tiger or an animal closer to home such as a local wildlife centre or dogs home. Charities have some great, cost effective, packages that keep on giving throughout the year. It is lovely to get updates on how your sponsored animal is getting on.
  • Memberships can be a nice present for a family or couple such as The National Trust or English Heritage. This is a gift that will create memories for a family long after Christmas Day has gone.

So, you see there are lots of ideas out there that don't have to create physical clutter. You just have to think outside of the box.

 

Dropping Hints

So kids get to write their letter to Santa of exactly what they would like for Christmas. As grown ups this isn't common practice, understandably so. But how many of us have opened up a gift on Christmas morning and had to use our best acting skills to say how much we love it. I know, we should be grateful for getting anything at all, and I know we are. But if it's the difference between getting a gift that will just add to the clutter pile compared to something you want, need or love, then where is the harm in dropping a few hints for Santa to hear.

 

Managing Present Expectations - Quality vs Quantity

We can sometimes feel a pressure to ensure there are piles of presents for our kids under the Christmas Tree. Some of us feel the need to buy lots of little things, as well as the big things, so that when the kids come down on Christmas morning, they see a big stockpile of presents. One of the problems with this is maintaining it year after year. Especially when you find that as our kids grow bigger, the expensive toys they want tend to get smaller, and so that pile doesn’t seem as big anymore.


A top tip for those small expensive toys is to wrap them up in a bigger box. They will love the present just as much, and there will be a bit of fun whilst they wonder where that present might be. Filling under the tree using this tip will mean that you don't have to buy extra things that they don't necessarily want or need.

  

Financial Pressure of Presents

This year in particular is a time when we should really think hard about the choices we make when buying presents for those who are not in our immediate family. We should not feel like we have to if we aren't currently in a position to do so.

 

Spending time together and creating lasting memories are much more important, especially at a time when people might be struggling.

 

I always find the Christmas message from Martin Lewis a great way to understand the pressure on people to buy each other presents, and it is also a good way to start the conversation, if you do want to discuss it. Here is the link to his message for this year, which includes a video he did in 2018.

Is it time to ban Christmas presents? - Martin Lewis' Blog... (moneysavingexpert.com)

 

If you are worried about having the conversation then you don't have to, most people would understand if they don't receive anything from you this year.

 

Declutter the Kids Toys

It is always a good idea in the run up to Christmas to have a clear out and make some room for the new things that Santa will be delivering on the big night.

 

Involving the kids in this process will depend on their age but a good incentive is to start thinking about it around the time that Christmas Lists are being written to Santa. Making room for that new toy can be a great motivator for some children. Also don't forget to use that Naughty and Nice List as another way of getting your kids to tidy their room ready for Santa's visit.

 

This is also a good time of year for selling toys as people will be looking for bargains or for things that may have sold out or are no longer even available. Or if selling the items isn't important to you there are charity shops or even pop-up charities around Christmas time that are on the look-out for nearly new toys that can be given to kids who may not be as lucky as others.

 

100% Recycled - Eco Friendly Wrapping Paper and Bows

Why is this such a good idea, aside from the obvious of being better for the environment than non-recyclable wrapping paper?

 

Think about Christmas morning when the presents are being opened and the wrapping paper has been ripped up, screwed up and tossed to one side. Some of us find it quite annoying and dare I say stressful when you have to separate what can and can't be recycled. It's so much easier if you know things can go straight into the recycling bin.

 

The day I discovered most wrapping paper couldn't be recycled I was not a happy bunny, and feel guilty when I bag it up to go to landfill. Some people find it a huge barrier to letting things go if they can't be recycled and it can become part of a much bigger problem.

 

So please think before you buy this year and go for an eco-friendly option.

 

Pantry Purge

If you are lucky then Christmas is a time when lots of food and drink can find its way into your home. So, make sure you are prepared for this! Otherwise, your pantry will be bursting at the seams, and you will lose items at the back of cupboards and forget you ever had them.

 

Now there is a line of thought that we should be doing a meal plan of what to buy for Christmas, and whilst this is the sensible option, we don't always have time for. But let's at least make some space for what is inevitably going to arrive.


Declutter your Toiletries

Christmas is the time of the gift set. How many of us end up with items we know we will never use? These things will take up space in our cupboards, shelves and drawers, if we let them. So, before Christmas arrives have a clear out.


If items haven't been opened, they could make a nice gift for someone else, maybe as part of a small hamper of items. Make your own gift set that you know someone will like. You could also donate the items to a charity shop or even a food hub (they do take non-edible items too). Maybe look locally to see if any schools are collecting contributions for their Christmas fayre raffle or tombola. These items can help to make money for those who need it.


If you have empty make-up or beauty product containers, there are now retailers such as Boots, Superdrug and The Body Shop who will take them in as part of a recycling programme. The Perfume Shop will even take back empty bottles and give you a discount voucher in return.


Whatever Christmas brings, do enjoy, keep smiling and remember wherever there is clutter there is a way to let it go! Merry Christmas.

Tags:  Christmas 

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HOMEOPATHY AND THE MOON

Posted By Danielle Abramov, Homeopath, 30 November 2022

Lunatic (crazy) comes from the Latin ‘lunaticus ‘or ‘moonstruck’. Folklore has us all affected by the moon’s phrases, but more recent scientific research has noted that more outdoor criminal activity takes place at the full moon.

Moreover, there is as clear relationship between the change in the moon’s gravitational pull and bi-polar patients’ manic-depressive cycles. Women’s menstrual cycles can also be influenced by the moon’s cycle, and many cultures have associated them with fertility. In my practice, I am regularly told that ‘my period always starts on the full moon’, a characteristic symptom which I include to narrow down the remedy I shall eventually prescribe.

In other cases, the advent of the full moon affects some so negatively that they dread the monthly depression, paranoia or insomnia. Homeopathic treatment has greatly helped those suffering from symptoms before or during the full moon.

Homeopathic treatment is holistic and individualised and as such remedies will differ according to a person’s totality of symptoms. If any of this resonates with you, contact me for a no-obligation 15-minute discovery call.

 

Image credit used under free licence - Aron Visuals, Unsplash

Tags:  depression  fertility  full moon  holistic  homeopathic treatment  homeopathy  individualised  insomnia  menstrual cycle  moon  paranoia  totality of symptoms 

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Compassion in Business Coaching

Posted By Vicky Kelly, Business & Life Coach, 28 November 2022

It has been remarked on a few times recently, that I appear very calm and gentle compared to other Business Coaches.

Being compassionate and nurturing in my coaching style has always come naturally to me. I see the innate human vulnerability in everyone (even the apparently really confident, high achievers), so it never made sense to give my clients a hard time if they haven’t completed an activity we’d talked about. It’s also never felt like it is my place to do so.

After all, it’s their time, their business, their life - not mine.

My role is to support and help them find their own strengths and work with the challenges in front of them in as positive a way as possible. The support can be emotional as well as practical. Whilst many of my clients want and appreciate having some accountability in their business, it’s essential to me that they don’t give themselves a hard time if it hasn’t happened for whatever reason. They aren’t going to perform at their best if they are feeling bad about themselves - so I am definitely not going to add to that.

What we may work on, however, is the reasons that the activities weren’t completed and see if I can support them to make some changes there (whether in mindset, or practical ones) if that is appropriate. I occasionally wonder whether people assume that coaches have it all together and never experience any difficulties, so it feels important to point out that I am a human too and sometimes my own to-do lists go out of the window!

Last Wednesday was a classic case of this. I had an hour or so in the morning before my first client of the day and I had written a to-do list that I wanted to get through as much of as I could. (I have a nearly 3 year old, so that childcare time is precious and whizzes past in a flash!) Bea had been a little under the weather and when my parents arrived to collect her, rather than marching off happily with them, with barely a backward glance, we had sobbing and her wanting to be held by me. My chosen approach to parenting means that I gave her what she needed and held her until she was feeling happy enough to go off with my parents, which she eventually did after about an hour. Gladly, I didn’t have to postpone any of my clients, but my to-do list was rather compromised! In that situation, I just have to pick what is the priority and what makes the most sense to do at that moment.

There really is no point getting stressed/upset with yourself if your to-do list doesn’t get done because life gets in the way. However, if this is a regular occurrence, you might feel instinctively that there is room for a little improvement – whether that is in mindset, or in practical application - and that some gentle outside help may help you with that. If that’s the case, get in touch. I’d be happy to discuss your options with you and see if I am the right outside help for you.

Tags:  business coach  compassion  meeting goals  mumpreneurs  self kindness  time management  to-do lists 

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Record number of UK households joining UW to save on their bills

Posted By Harriet Banham, Utility Provider, 24 November 2022

Half-Year Results for the Six Months ended 30 September 2022

22 November 2022 - Telecom Plus PLC (trading as Utility Warehouse), which supplies a wide range of utility services to UK households, today announces its half-year results for the six months ended 30 September 2022.

Financial highlights:

  • Revenue up 51.5% to £562.4m (2021: £371.3m)
  • Adjusted profit before tax up 22.5% to £32.1m (2021: £26.2m)
  • Statutory profit before tax up 46.2% to £29.1m (2021: £19.9m)
  • Interim dividend increased to 34p per share (2021: 27p)

Operating highlights:

  • Record growth – annualised customer growth rate of almost 24%
  • Customer numbers up by 86,004 to 814,684 (March 2022: 728,680)
  • Total services supplied up by 292,343 to 2,557,252 (March 2022: 2,264,909)
  • Insurance services increased by 67% from 44,834 to 74,948
  • Unique multiservice model delivers energy bill savings of over £30m to UW customers this year
  • Broadband agreement with TalkTalk extended on improved commercial terms

Current trading and outlook:

  • Net customer growth remains at record levels
  • Partner recruitment increasing in response to the cost of living crisis
  • We are upgrading our previous guidance and now expect full-year adjusted profit before tax for FY23 of at least £95m, leading to a full year dividend of at least 80p per share (2022: 57p)
  • On track to deliver an additional one million customers in the next 4-5 years

Commenting on today’s results, Andrew Lindsay, Co-CEO, said:

“As the pressures on household budgets mount, we continue to offer UK families what they want: the lowest priced energy on the market, savings on their mobile, broadband and insurance bills, cashback on their daily spend, and additional earnings for recommending UW to their friends and families. The business is growing faster than ever, at an annualised rate of almost 24%. With inflationary pressures showing no signs of easing, we expect demand for what we offer to remain high, supporting our progress towards our target of welcoming an additional one million customers in the next 4-5 years.”

Stuart Burnett, Co-CEO, added:

“UW is now the only meaningful energy switching option in the UK, with the rest of the market offering customers little to no difference in price or service. Our unique multiservice proposition enables us to provide households with energy savings of up to £125 a year below the new Energy Price Guarantee, sustainably and profitably, underpinning our long-term strong competitive position. These energy savings are expected to put over £30m back into the pockets of UK households this financial year alone. With financial pressures on families due to increase over the next few years, we expect demand for the savings and earnings that we offer to continue to grow.”

Tags:  #energycosts #savemoney #costofliving #lowestprice 

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The three great myths of Content

Posted By Cate Caruth, Founder and Director, 23 November 2022

‘Content’ is such a buzzword these days – it is a concept surrounded by myths and anecdotes. There isn’t a small business owner who hasn’t been told “you need good content.”

Yet, when you dig a bit deeper you find that ‘you need good content’ creates a lot of confusion and anxiety and, as a result, no one really understands why they need good content or, even, what is really meant by ‘content.’

So over the next few blogs, let me unpick that for you. Let me show you how to Make Content Work For You.  And let’s start with the absolute basics.

What is Content?

Google the word content and you get a range of definitions (depending on how you pronounce it). The two that are closest for our purposes are:

  • the material dealt with in a speech, literary work, etc. as distinct from its form or style.
  • information made available by a website or other electronic medium.

Frankly, I’m not mad keen on either of these. They don’t really help you work out what you need to do, so I’ve found a better one. Content is:

anything which adds value to an audience

Okay, we’ve got a definition – and we’ll be coming back to that in a moment to make it more meaningful for you, but let’s pause for a moment and consider another really important question

Why does content matter?

There are broadly four reasons that content can help you if you are in business or running a charity or wanting to make a statement for any other reason:

  • Visibility: by producing a regular supply of content, you are showing up to show that you have something to say in your market
  • Attracting new customers: people may not know that your product exists so you have an opportunity to explain hat you do and how you do it in a way that appeals to them
  • Differentiation: This is really important in markets which are over-crowded. Why should someone chooses you over all the rest? Answer: Because of the value you offer – and content is explaining that.
  • Search Engine Optimisation (SEO), if someone searches online, the more new content you have the higher up the list you appear

So, we have what and we have why. Now let me debunk the three biggest myths about content so you can start to think about how content can work for you.

Myth 1: My content has to appeal to everyone.

Your audience is unique to you, so tailor your content to that audience. Don’t try to make it universal . By doing that you risk alienating the very audience you sought to cultivate. For example, if you’re writing a computer guide aimed at IT experts but waste time on basics, you risk the expert audience getting bored and switching off even though they should be your primary concern. They want to the nitty-gritty technical stuff. And yes, your average home IT user will be baffled – but that doesn’t matter.

What does matter is knowing who your audience is. And it won’t just be your customers.

Let’s take another example. Let’s say you make printed football shirts for youth teams. In this case the audience is diverse. We have:

  • Customer- The team manager who is buying shirts for his team
  • Prospect- The manager of a team which needs new shirts.
  • Supplier- Who has provide shirts in all colours and sizes
  • Community- The people of town in which the team plays
  • End user- The children who wear the shirts
  • ‘Connected users’- The parents who have to wash the shirts
  • Staff- Your team who take orders, make and pack the shirts
  • Regulators- The Football Association who have rules about football strip

Your situation will have just as many potential audiences and many more. So think it through and identify them.

Myth 2: Value is about money

If content is anything that adds value to your audience you could be forgiven for thinking that’s all about financial value. In this context, however, value is anything which your audience might find useful. Let’s take the previous example of football shirt printing and think what value you can add to your audience.

  • Entertain- Feature videos of football being played, football memes, the latest scores, etc.
  • Give ideas for other users- Maybe some users don’t play football, but the shirts look good off the pitch too.
  • Inform- Show the ‘connected users’ how to wash the shirts so the colours don’t run
  • Educate- Demonstrate what the manufacturing process for the shirts is
  • Support- Post images of the local teams to help them find sponsorship
  • Align – Show what your values are as a business so others with similar values feel a connection

It is always worth working out what are the different values you can bring for your own specific audiences. Knowing what they want will really pay off.

Myth 3: Content is written

Content is anything which adds value to the audience.

It can, of course, be written in blogs, social media posts or articles, but it can also be:

  • Audio– Podcasts, radio, songs
  • Video– Facebook Live videos, Youtube clips, DVDs
  • Visual – Photos, infographics, memes
  • Personal – You in person at a networking event, training course or presentation

It can be Anything…. REALLY Anything

Going for a cup of coffee and a chat is content!!!

What you should be getting from this is that your skills are the basis of the content.

If you own a restaurant, your recipes and techniques are the content.

If you install kitchens, advice on adjusting doors is content.

If you’re a Content Alchemist, advice on developing content is content.

Now that we’ve gone through these myths, I hope you feel more confident to go out and produce your own content. You might even have gained some new ideas for your next content project. If you have, post them below – I’d love to hear them.

 

Want more help with your content. Visit my blog for more hints and tips. 

Tags:  content  creativewords  Planning  techniques 

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What rights do cohabiting couples have on breakdown of the relationship? Law Commission proposals for reform around cohabitation still not implemented.

Posted By Vanessa Gillbanks, Mrs, 21 November 2022

What rights do cohabiting couples have on breakdown of the relationship? Law Commission proposals for reform around cohabitation still not implemented. 

The number of people who choose to live together or ‘cohabit’ rather than marry or enter into a civil partnership has increased by a staggering 144 per cent between 1996 and 2021. There have been moves for legal reform around cohabitation for some years, with some people wrongly assuming that cohabiting couples enjoy the same financial status as married couples or civil partners and finding out to their cost that they don’t.

In 2021, 22% of couples who lived together were cohabiting rather than married or in a civil partnership – the percentages differ between same-sex and opposite sex relationships.

Although there are some legal protections afforded to people who choose to cohabit, such as protection form domestic abuse, there is no such thing as a ‘common law marriage’ and when it comes to the finances, cohabiting couples do not have the same legal status as married or civil partners. Sadly, many people don’t know this and when their relationships break down, they are left in difficult financial positions.

Proposals for reform around cohabitation

Back in July 2007, the Law Commission published a report considering the financial consequences of ending cohabiting relationships. The Commission recommended the introduction of a new scheme of ‘financial relief on separation’.

The new scheme would look at what it described as ‘qualifying contributions’ – the contributions which each partner made to the relationship. These might not necessarily be monetary; for example, they could be that one partner took on the bulk of childcare. To be eligible, cohabitating couples would need to have had a child together or to have lived together for a minimum period. Couples could also choose to opt out of the scheme in writing if they chose to.

Delays to reform around cohabitation

In March 2008, the Labour Government announced it would be taking no action to implement the reform around cohabitation, delaying the Law Commission’s recommendations to ‘see what happened’ when similar schemes were implemented in Scotland. In April 2018, the May Government said that it wanted to wait and see best to proceed, if at all, “in the context of any further reforms to the family justice system”.

Another, separate Law Commission report from 2011 recommended that unmarried partners should have the right to inherit after each other’s death under the intestacy rules, without having to go to court. This has not been implemented either.

sign directing cohabitation and marriage

Women and Equalities Committee inquiry

On 4 August 2022, the House of Commons Women and Equalities Committee published its report on the rights of cohabiting partners. The report recommended that family law should be reformed to better protect cohabiting couples and their children from financial hardship in the event of separation; it also recognised that marriage still holds an important social and religious status in England and Wales.

The Government responded by saying that the existing work on the law of marriage and divorce must come to an end before any new law changes in respect of cohabiting couples could realistically be considered.  The Law Committee’s calls to implement both the 2007 and 2011 recommendations were rejected.

What this means for cohabiting couples

The uncertainty and delay around any potential financial regulation of cohabitation means that couples who choose to live together without marrying or a civil partnership need to take care of their finances from the beginning; unlike divorce, current law contains very little provision for relationship breakdown between them. For this reason, some couples choose to create a ‘cohabitation agreement or living together agreement’ when they start living together which sets out what they want to happen if the relationship ends.

Parties are encouraged to take legal advice on the terms and intended effect of any proposed agreement. As the government have not yet implemented or accepted the need for change in the law, cohabiting couples continue to have few rights regardless of how long the relationship. If you are considering living with someone or are already do so, then ensure you know your rights and discuss what you both understand the other will be entitled to – or not as the case may be.

If you’re looking for advice on living together/ cohabitation agreements or are separating after living with someone or need help with any  aspects of family law, contact Vanessa Gillbanks at Gillbanks Family Law and she will  be delighted to help.

Common law marriage and cohabitation – research briefing

email: vanessa@gillbanksfamilylaw.com

http://gillbanksfamilylaw.com

Image credit Adobe stock, purchased under licence November 2022

Tags:  Cohabitee Rights on relationship breakdown 

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5 Tips for Creating a Business Plan

Posted By Abbie Akinfenwa, Virtual Assistant, 08 November 2022

You’ve got this great idea and you decide you want to turn it into a business. Amazingly you realise you could become an entrepreneur and be the one making the decisions. Scary but also exciting and very tempting to be the one responsible for engineering your own success and reaping the benefits too. But hold on - before you start visualising that yacht or wonderful lifestyle, you need to get a grip on your business idea and actually turn it into a success that you love, and that makes your bank manager smile.
Where do you start, though, if you’ve been an employee all your working life and don’t mix with entrepreneurs (so far)? There is an amazing amount of work involved in taking an idea all the way into a product or service you can sell to an appropriate market, which might or might not know that it needs your idea and should part with money for it. 

Without any doubt you start by writing your business plan


Why? Because it makes you answer all kinds of questions that need to be answered so you can work out whether your idea is viable - especially if you’re considering risking everything you own, such as your house, car and savings to back it. 
Your business plan outlines what your business does and what you are trying to achieve. It explains what the market opportunity is, what makes your business special and how you will make it a success. 
Writing a business plan means you have a written document that describes your business. It covers objectives, strategies, sales, marketing and financial forecasts.

What you should aim for is this:


Clarify your business idea and proposition 
Use research to understand your audience 
Plan your sales, marketing and business operations 
Spot problems and work out how to overcome them 
Set out your goals and objectives and the financial return you expect
Work out what financing you need
Convince other people to back your business 
Allows you to measure your process
Set out your goals 
Measure your progress

When you write your business plan keep it professional, brief and use clear language - to the point that you are able to outline your plan verbally if you have to, without looking at a presentation or a document. You should know it like you know your own face - it’s expected. Specify numbers and dates, don’t be vague. Be clear about your ambition and how you aim to get there and what you need to make it happen. Only then will people be in a position to make decisions about how they can help you. 

A business plan is critical because: 

1) You must ensure your idea will make money – it’s shockingly true that some people get so excited by their great idea that they don’t stop to check this. In fact, they’re determined to make it work thinking that they can beat the odds of what the market is willing to accept. Don’t be that person. But also don’t be put off by making a loss in the early stages either – if your idea is great enough, you may have to accept losses during the first growth phase before you start to turn a profit. Think Silicon Valley tech businesses which all started small too.


The way to know if your idea is any good is that if you have investment companies fighting to help you carry the brunt of those losses then you know you’re onto a good thing, because they’re betting on big returns in the future. Just remember though that while investment is the key to fast-tracking growth, you will have to offer a degree of control and ownership to the investment company. 


Understanding that is really important and watching Dragon’s Den is a good way to figure out the costs and benefits of a partnership, and to visualise what kind of arrangement you would be comfortable with. The rule is they will always want more than you’re willing to give, and before you even get to the point of pitching to investment companies there is much to do before anyone will take you seriously. The key thing here is to keep a level head and be professional – and still hold onto that enthusiasm for the energy you need to keep going and bring other people with you. 


2) Fast tracking growth needs sound expertise and advice as well as investment, to help a newbie to avoid making the kind of expensive mistakes that could derail a great little business. It’s a crushing experience. There is a great deal of reliable advice out there and much of it is available from national and local governments who are keen to support budding entrepreneurs who may become the economic engines of the future for local and national economies. 


 3) You need to operate within the law, file tax returns, meet your legal obligations as an employer if you have staff and be insured for liability. You need to think of everything and pay good attention to it, even if it’s boring. And if you can’t get your head around it, then bring in professional advice and pay for the best you can afford. It’s a false economy to skip this. If you didn’t choose to be an accountant when you came out of education, then chances are you’ll never be able to do even simple accounts. Accept your limitations. 


 4) Source advice from people and organisations you can trust. Your friend in the coffee shop or pub may well be completely useless. This is your future and you must take care about where your advice comes from and what you’re basing your decisions on. 


 5) You need to work out what kind of risk-tolerance you have. Are you a risk taker or do you feel the need to play safe? This will influence and shape your plan. It will allow you to decide whether you need to go after investment early or are happy to start small and build your growth organically using early business income which may be supplemented by another job. You may also find that there are local government backed initiatives that will give you a grant to help you start removing some of the pressure of borrowing money commercially. 

PINK SPAGHETTI CAN HELP YOUR SMALL BUSINESS GROW 

If your business is at the idea stage, it could be ideal to put a VA in your plan to help you achieve specific training or task goals economically as you grow, instead of thinking about employees. This is a sample of what you can expect. 

  • Administrative help 
  • Sales and customer service calls 
  • Professional sounding board 
  • Corporate experience 
  • Managing projects on your behalf  


We’re committed to pricing which is transparent and fair, and our UK-based virtual personal assistants can step in and become your business manager working within your framework for growth. We have provided this service for many small business owners and we recommend downloading this Business Manager PDF to find out more. 
 If you are writing a business plan now and planning on becoming your own boss, we salute you! And if you’d like to find out more about virtual assistants, we’re ready to answer all your questions. Click Here to contact us now. 


Tags:  #businessplan #business #bsuinessowner 

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Microsoft settles trade mark dispute over the letter "s"

Posted By Yvonne Onomor, Solicitor & Chartered Trade Mark Attorney, 27 October 2022

An Inventor based in Nottinghamshire has settled opposition proceedings brought by Microsoft against her mark "Word Windows" by removing the letter "s" from the word "Windows".

The inventor can now proceed with her "Word Window" tool to aid children with dyslexia but has had to change all packaging for the product to reflect the new branding and remove all mentions of the original mark on her website and elsewhere.

Read - https://www.bbc.com/news/uk-england-northamptonshire-63158878

Settling trade mark disputes early where possible can avoid significant costs for your business, especially if you are a start-up. It also does not have to result in a complete change of name. Your brand is crucial to your business. It is your business identity whether you provide services or sell products.

Get in contact with me if you have any queries about trade marks or any other IP-related issues and I'll help you find the best solution for your business.

Email at yvonne.onomor@elys-ip.com or go to my website: https://elys-ip.com/

Tags:  brands  intellectual property  IP disputes  trademarks 

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Are you feeling unfulfilled?

Posted By Sally Inkster, Brand Specialist, 20 October 2022

Feeling unfulfilled?

Not living out your full potential? The following quote is from the book 'Conversations with God' by S.D Walsch ''Hell is the opposite of joy, it is the unfulfillment, it is knowing who and what you are and failing to experience that, it is being less, that is hell and there is none greater for your soul''.

A bit about me

My history is in cancer nursing, I went onto an oncology ward as soon as I qualified at the age of 22. I stayed in that unit becoming the ward sister and then later moved hospitals to be a Cancer Nurse Specialist. That period of my life gave me far more than I ever gave the job or the patients it must have paid me back a thousandfold. It was at times the hardest job ever, but at the same time uplifting and positive. I can remember on many occasions, bursting into tears at the slightest thing, seemingly blowing it out of proportion, but I soon learnt that to release the stress 'Crying over spilt milk was a safety value. What it did do was teach me what my values were and that anything is possible if you align what you are doing with the values you hold. It also taught me valuable lessons about priorities, and when I read the book ''What the dying say before they die'' I completely understood and agreed with the author, that the following are the most common things you hear.

I wish...

I wish I'd had the courage to live the live true to myself, not the life others expected of me. To do this takes a lot of courage, but also a lot of self awareness and self discipline. You may be happy enough with your life, relationships, and jobs, but what if there was something better, more rewarding that you could be doing? Sorting out a personal brand can help you on this road of self awareness, who you are, and what your skills, talents, and experience you have that can take you where you want to go.

I wish hadn't worked so hard. You can go through life thinking that work is something to be endured. Lots of creative people say though ''I was lucky, work never felt like work because it was my passion, hobby, the thing I loved to do'' (think artists, singers, dancers). We all find work easier if we are working in our talent and strength areas, do you know what yours are? It is said that so long as we work hard enough at something, we can become good at it shown in the American saying ''You can be anything you want to be'', I don't think is true. You cannot be anything you want to be BUT you can be a lot more who you already are! Most people think they know what they're good at, they are usually wrong, learning what you are good at naturally means you can be amazing at what you do, and inevitably that feels easier.

I wish I'd had the courage to express my feelings. I wish I could say that I had a magic wand for this one, but, I think, it comes down to believing in yourself and being proud of who you are. If you are proud of something you find it so much easier to show and talk about it. Learning about yourself makes you realise, that you are unique and that your feelings, wants and fears are as valuable as everyone else's.

I wish I'd stayed in touch with my friends. This is a hard one, it usually comes down to not having enough time. We all have friends who were friends at a particular time in our life, like the mothers/fathers of our children's friends at school. It is natural for some friendships to come to an end. But not all, sometimes it happens because of bad time management on both sides. Time management is about learning how to manage your time! We need to get out of the BUSYness of business. It is an interesting task to work out exactly what we do in a day, track it absolutely, and then work out what you can delegate, buy in or even, just not do. Put friend's time into the diary the same as for family time, put the time into the diary.

I wish that I had let myself be happier. Our brains are geared to keep us safe, not happy. Being happy is a choice, it's not there all the time, nor should it be, otherwise we'd never recognise it when it arrives. Self awareness isn't easy, it takes work. It is made far easier when you have someone helping you, but above all, it makes the process so much quicker, which addresses the time management part of giving you the life you want. Finding your talents, skills, and values is part of your Personal Brand and it is the first thing I address with my clients, which is great for their business, but more importantly, it is great for their life in general.

Don't spend your life wishing and not doing

Do book a chat with me if you are intrigued to discover your uniqueness and define a clear personal brand.

Love Sally x

Sally Inkster Finding Brand YOU!

What is a Personal Brand? ''It's who you are, your values and beliefs and the ENERGY you bring to all you do''

Tags:  Personal Brand  Skills  Talents  Uniqueness  Values 

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