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7 months ago

The Star: March 23, 2017

SPENDING THE KIDS’

SPENDING THE KIDS’ INHERITANCE (S.K.I.) WORDS FLEUR MCDONALD Whenever I go out into the community to talk to people about the need for clients of all ages to have Wills and Enduring Powers, we often end up talking about Retirement Villages or Residential Care. What is it likely to cost them? What they are entitled to? What aren’t they entitled to? Often, one of the most important concerns for our parents and grandparents generation is how that will impact on their ability to leave something to their children or grandchildren? Our parents and grandparents have worked hard over their lifetimes so this is a time where they should be enjoying the fruits of their labours. However, two World Wars and the Great Depression has encouraged them to be careful in their spending and to save for that “rainy day”. They will often forgo that new car or that trip overseas for fear of breaking into savings or investments. That philosophy can have real implications for them as the more they keep safe for that rainy day, the more they may have to pay if and / or when they need residential care. The current asset threshold for a Work and Income Residential Care Subsidy is $219,889 for a single person or for a couple when both are in care or $120,416 for a couple where one is still living in the family home. If the value of their assets, whether the assets are held jointly or separately, is over that threshold, our parents and / or grandparents will be required to pay for their care. Also they need to be aware that, if their investments are earning interest, that interest will also need to go toward paying their care costs. Often, there isn’t much we can do. We may be able to change the way they own their home or set up a Funeral Trust, but in the end, if they have assets over the threshold, they will be expected to use those assets to pay for any care costs they may have in the future. We recommend that your parents and / or grandparents sit down and get some good advice in relation to their savings, investments and the legal structures they currently have in place. Talking to an Authorised Financial Advisor and their Legal Advisor will give them a clearer idea of what they have and what their options are. If all else fails, maybe they should give some serious thought to Spending their Kids Inheritance. As with all areas of law, it is important that you seek good advice from a team who understand how this area may impact on you. At Harmans we have experience with all areas of Seniors Law. Contact Fleur McDonald on 03 352 2293 to arrange an appointment to discuss your situation. Esperance Floor Light By Freedom Furniture Kate Spade - All in good taste THE DEVIL IS IN THE DETAIL Scandi Tassel Bed Throw From Kip and Co Accessories can add that special touch to your interior space. Wolf Packer Cushion From Pony Rider HOME/LAW I 6 Glass Candle by Lumira Mrble Board with leather handle From Madam Stoltz Dusky Pink Tableware From Bob Steiner ARTHRITIS AID AND CIRCULATION BOOSTER It all started when a worried wife from Kapiti found a way of relieving her husband’s severe arthritic pain and stiffness. She created a device she called an Aircycle. Arthritis carers were so impressed with the relief and increased joint mobility this man experienced they asked for more to be made available to other sufferers. Consequently, a cousin of the creator, Jenny Watson from Lower Hutt started Aircycle Ltd which has grown to the extent that the exerciser can now be purchased through most pharmacies and mobility centres. Jenny has now retired and sold the business to Sue Bustard who lives in Kapiti where Aircycle originated. Sue says ‘I’m really excited with the feedback from so many people who have benefited from this simple invention’. A few examples follow: ‘My ankles are half the size and I can wear my shoes again’ Mrs Johnson, Tauranga. ‘I don’t get woken at night with painful cramps in my legs’. Mike, Oamaru. ‘My hands no longer throb all night’ Sue, Whangarei. Used by hospitals, rest homes, diabetes clinics, podiatrists and physiotherapists, it’s helpful for the following: • Arthritis and stiff joints • Diabetes, Parkinson’s, MS and Stroke rehabilitation • Building muscle to prevent falls • Cramps and restless legs • Aching hands and feet • Swollen ankles • Deep vein thrombosis Simple and inexpensive, it aids joints and muscles to move gently while sitting having coffee, reading, watching TV, working at a desk or travelling by car or plane. RRP $39.90. See stockists below or www.aircycle.co.nz or 0800 14 14 15 Available from pharmacies, Diabetes Christchurch, More Mobility, Aspire Christchurch or by calling 0800 14 14 15 • www.aircycle.co.nz

7 I HOME perfectly staged When our Real Estate agent strongly advised that we enlist a team of stylists to help ‘dress’ our property, I immediatly thought that this was just another unjustfied expense. Why on earth can’t a potential buyer imagine a new property with their furniture in it? Surely putting lemons in an expensive bowl on the bench, karate chopped cushions and an artfully strewn rug on the sofa couldn’t mean someone would be swayed in to spending more. While I never discounted the fact that stylists are extremely good at their job, curating furniture pieces to fit together into a seemly perfect setting, free of everyday clutter, it was the thought of this ‘property staging’ as being necessary now for the purpose of fuelling a buyers imagination that urked me. To get to the bottom of this realitively new business Jasmine and Rebeka from In House Style took on my questions and I have to admit that I’ve done a complete 180 in my thinking. The way I now look at ‘dressing’ your home for sale is: why wouldn’t you spend a small amount more on property staging if there’s even the smallest chance that it might sway the opinoins of those who hold the purse strings? If it might mean the difference between a quick sale for a higher dollar then you’d be mad not to take a punt and call in a styling specialist. Here’s what Jasmine and Rebeka had to say... What would you say to people that think they don’t need professional advice and can’t see the expense as being justified? IN HOUSE STYLE: We see property styling as one of the most important investments you can make when selling your property. Property Styling enables buyers to emotionally connect with a property plus its inspires them with how their own furniture could work there. It also shows your property off at it’s absolute best. Property Styling will often result in a quicker sale at a higher price. Enjoy Dunedin with us Aaron Lodge TOP 10 Do you prefer to work with a blank canvases/empty home or can you provide an add-on package to include existing furniture? IN HOUSE STYLE: We do prefer to completely style an empty property as we can achieve an overall cohesive look. We do offer a partial styling service, where we can potentially use some existing pieces which will work with the look we are trying to achieve. Do you change your staging to suit the potential buyer in-mind or do you stick to a tried and tested look? IN HOUSE STYLE: As each property is completely individual, we will always style it with a look that works for that specific space. We do understand what generally works and appeals to the majority of potential buyers but at the same time we don’t use a “cookie cutter” package for every house. We have a varied range of different styles of furniture to complement different types of properties, from character homes to contemporary new builds. Where do you source your staging products? Are the pieces available to be bought? IN HOUSE STYLE: We have a range of suppliers, both locally and overseas where we source the majority of our pieces. If someone is interested in specific pieces we are always happy to source these for them. What’s your background? How did you get in to the property staging business? IN HOUSE STYLE: We come from a background of Real Estate and Interiors. Two years ago we saw a gap in the market and the opportunity to create a property styling business that Christchurch hadn’t had previously. We focus heavily on detail and use beautiful unique pieces which are individual to us and our brand. • Heated Swimming Pool • Pentanque Court • Playground • Barbeques • Activities Booking Service • Reading Room • TV Lounge • Spa Pool • Mini ‘Park Golf’ Course • Under 5’s Playroom • Picnic Tables • Games Tables • Internet Station • Laundry www.aaronlodgetop10.co.nz watch local | support local | shop local Join our hosts Geoff & renee on sKy ChaNNeL 83 Thursday 7.30pm repeaTs friday 1.30am & 7.30am WE SHARE YOUR VISION SKY 083 + On Demand WWW.STAR.KIWI for enquiries, contact Geoff moreton: 021 1066 177