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(LLOY) Lloyds Share Chat

Discussion in 'General Share Chat (LLOY)' started by Inspiration, Jun 23, 2015.

  1. Watchman

    Watchman Demi God of BlueShare

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    Noticed you wrote on LSE "My mother needed 10 years of dementia care: it erased the entire value of her home after her death."

    Following a complete cock-up with a relatives estate, I saw that vanish under very similar circumstances, I was determined not to let it happen again. So set up a Trust Fund. That seems to have worked fairly well so far with only a few grumbles, if handled properly it is probably the best mechanism that can preserve an estate. The hard part is to convince asset holder Parent members to transfer assets to the Trust. In my case the trust also has enduring power of attorney (mother has Parkinson's) initially could not grasp the concepts and its hard for anyone to give up their possessions at least while alive. Finally they did see the benefits, like affording greater trust and scrutiny particularly those taking powers of attorney. It works fairly well now with various family members with roles to manage the estate - to pays bills, provides loans etc. The big benefit is that all of the assets put into the Trust belong to the Trust, on death no-one can lay claim to the assets as they are and were not owned by a deceased member (subject to the 7 year rule). Assets are distributed as prescribed in a Will giving executor control, provides protection against claims by authorities.

    Unfortunately, on a separate issue, you mentioned on LSE, I am not with you on the proposed legislation in that there are hidden costs on the 100K residual (probate costs and CGT) and pushing policy that favours a broken US style market model could be very short sighted in my opinion. If they go ahead then due to an underfinanced care assurance in the UK the side effect of hiked draconian charges can only drain money quicker than currently possible from an estate. In principal the availability of guaranteed future returns to the corporates makes for a big land grab in the sector. My fear is (as in US) unregulated charges will burn a modest estate. Sadly it is a kinda reverse Darwin effect, everyone will need to hurry up and die if they want to pass on their legacy.
     
    Larry and GrumpyScouser like this.
  2. GrumpyScouser

    GrumpyScouser Demi God of BlueShare

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    @Watchman : yes, the whole area is a mess and needs immense effort to address. A close friend has also gone down the Trust route and I'm pretty sure that I shall do the same for my wife and I. When I get round to it.

    We were also 'robbed' of the right to Permanent ongoing care paid for by the NHS. They used a common trick which my solicitors (specialists in these types of claim) were all too aware of, but I had no clue about 10 years earlier:-

    In 2004 my mum had to be 'sectioned' in order to force care upon her. As part of that process a Review Board ensured that an appropriate home care package was in place before she was allowed to go home.

    WARNING: They were 'very kind' to offer to end her period of sectioning but asked if i thought it would be best for her to stay in hospital a few days more so that everthing was in place. I was 'delighted at their kindness and compassion'. I was also unaware until 10 years later that this meant she was in hospital out of choice, thus negating the liability for ongoing costs. And so the loss of her assets, after her death, to repay it.

    I have only one word....far too impolite for here but a warning to others. (edited for typos!)
     
    Latest Given Reputation Points:
    Watchman: 5 Points (Thanks for sharing, Tricksters, would steal the pennies from a dead mans eyes. Redacted.) May 19, 2017
    Larry and Watchman like this.
  3. Larry

    Larry Demi God of BlueShare

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    For those who like me lost a shed full (Thanks Gordon the Moron an "Sir" Victor Blank) I was involved in a class action to try and recover but withdrew when the Lizard Lawyers indicated they wanted more money and I feared throwing good after bad. Well I read this today and have emailed the class action to see if I can rejoin.

    http://www.proactiveinvestors.co.uk...t-over-ill-fated-takeover-of-hbos-178891.html
     
    Watchman likes this.
  4. GrumpyScouser

    GrumpyScouser Demi God of BlueShare

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    I don't know if this is yet public: message from my son.

    Lloyds Banking Group responds to Grenfell Tower tragedy

    A week on, I am sure that we all continue to be shocked at the scale of the Grenfell Tower tragedy, and the affect it has had on so many families and lives. Our teams are continuing to help our customers on a day-to-day basis as they begin the long process of coming to terms with the effects of this event and the practical financial issues they face.

    In addition to the help you would expect our colleagues to provide, the Group has made a donation of £500,000 to The London Evening Standard’s Dispossessed Fund to help the residents of Grenfell Tower and the local community recover from this tragedy. In addition the Lloyds Bank Foundation for England and Wales funds a number of charities in the immediate vicinity of Grenfell Tower who have been working hard to support those affected. The Foundation is in discussions with the charities to explore whether it can provide further support for them in the coming days and weeks, including to understand if and how colleagues can continue to mobilise to support the community.

    We realise that this is just the beginning, and that many families will face difficult times ahead, but we will do what we can to be with them as they rebuild their lives. The entire country shared the sense of shock and disbelief as the scale of the tragedy emerged, but we have done, and will continue to do what we can to help our customers and the community recover from this awful event.

    Thank you to all our colleagues who continue to be there for our customers.

    Ed Thurman
    Group Ambassador for London
     
    Berwick, Magsy, gmpk and 3 others like this.
  5. StarTom

    StarTom Demi God of BlueShare

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    Well, with other banks up and Lloyds doing its best to undo all its hard work recently. :rolleyes:
     
  6. Berwick

    Berwick Demi God of BlueShare

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    Expect to see some momentum as we approach interim results on 27 July. If we drop below 65p I will add another 20k despite Brexit I think, Lloyds continue to be a good medium term bet with a relatively predictable short term 10% rise and fall cycle.

    B
     
    Tonto42 and StarTom like this.
  7. ezglide

    ezglide Demi God of BlueShare

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    A little underwater with Lloyd’s currently Anyone got any thoughts on current performance
     
  8. Berwick

    Berwick Demi God of BlueShare

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    Yes, worrying low but still in the 10p price trading range. I wonder if this is being pulled down by Brexit uncertainties with a key deadline approaching. Thinking of buying more but disappointed that the buyback plan isn't propping things up a bit better. I am wondering whether the shares bought back are immediately cancelled or whether there will be a RNS announcing a specific date and we will get a 1p bounce.

    B
     
  9. strollerb

    strollerb Growing older but not ready to surrender

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  10. strollerb

    strollerb Growing older but not ready to surrender

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    I also suspect the Brexit uncertainty is not helping matters.

    However I find the buy back scene a bit odd.

    They started buying back on 8th March.

    Declared shares in issue at 28th February was 72,086m
    No shares held in treasury

    Declared shares in issue at 31st May was 72,129m +43m
    No shares held in treasury

    Shares bought back at 31st May 512m at a cost of approx £336.8m

    New shares issued by deduction 555m

    I am advised these shares were issued to cover maturing incentive schemes and other such vehicles.

    I don't understand why go to the trouble and cost of buying in shares ,cancelling them , then issue new ones.
    Why not buy them in , hold in treasury to cover forthcoming potential commitments , and reissue as necessary.
     
    Squire007 and Berwick like this.
  11. Berwick

    Berwick Demi God of BlueShare

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    The daily RNSs say that it is Lloyds intention to cancel the shares it buys back. This suggests they have not already been cancelled.

    B
     

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