Estate Planning & IHT
The wish to leave wealth to future generations and to avoid unnecessary Inheritance Tax are often important factors in financial planning. However, the understandable concern for your children and grandchildren has to be balanced with your own financial needs for retirement. Speak to us today about reducing inheritance tax (IHT).
Estate Planning begins with your wishes in terms of how your estate is to be managed and for whom. The detail of the actual plan may include gifts, the use of trusts, a review of your will, investment plans and, lastly, life assurance to fund the tax arising on the residual estate.
We do not draw up Wills or Powers of Attorney but we do advise on how they fit in to the overall plan.
If you have suffered a recent family bereavement, we can also help you through the often challenging process of obtaining a grant of probate.
Further information about IHT & Estate Planning:
TrustsNews & Case Studies
Wealth NavigatorPosted in Inheritance Tax, Discounted Gifts (+3 more), on 19.12.18 Read Planning the BEST route for the next generation
Inheritance Tax- The Residence Nil Rate Band (RNRB)Posted in Inheritance Tax, Discounted Gifts (+2 more), on 26.10.17 Read The 2015 Summer budget announced the introduction of the residence nil rate band for inheritance tax. This measure...
Trust PlanningPosted in Financial Advice, Trusts on 20.07.10 Read Some good news for trust planning The Perpetuities and Accumulation Act came into effect on 6 April and introduced two...
Inheritance Tax Assessment ServicePosted in Financial Advice, Trusts on 28.11.09 Read The vast majority of us have little option over the amount of tax we have to render unto Caesar (aka Mr Darling). While...
Fiducia NewsPosted in Financial Advice, Trusts on 02.02.09 Read Our Practice Manager, Sarah Travers is due to begin six months maternity leave from the end of June and as a result we have...
As you approach later life, thoughts inevitably turn to making provisions for your children and grandchildren with the wealth and assets you will one day leave behind. One of the key concerns people have around estate planning is how to avoid burdening beneficiaries with unnecessary Inheritance Tax (IHT) bills.
Balanced by the need to maintain your own financial stability throughout retirement, IHT liabilities can be reduced by transferring wealth to loved ones during your lifetime. A combination of gifts and trusts provide legitimate vehicles to this end, while investment planning and life assurance can be used to further lower or offset tax costs.
Our experienced professional team of financial advisers will help you understand the rules and quota limits relating to gifts and trusts, the best ways to organise investments from a tax perspective, and how whole life insurance policies can be used to generate capital sums that cover IHT owed on estates.
The starting point for our estate planning strategies is always your wishes – how you want your estate to be managed, who you want the beneficiaries to be, and what you want the outcome to be in material terms. Guided by you, our specialists will put the plans in place to ensure your wishes are honoured.
Estate planning services summary
- Trust Planning & Solutions. Trusts offer a means of transferring wealth during your lifetime and protecting assets from IHT liabilities. Find out more here about how we can advise on the different types of trust available, and help trustees meet their legal obligations.
- Financial Investment Advice. Certain investments become exempt from IHT after a specified period of time. Read more about which investments offer the best options as part of your estate planning strategy.
- Whole Life Insurance. In the case of illiquid assets, such as property, appropriate life policies in trust can generate payouts which offset the IHT liability on your estate. Learn more here.
- Wills & Powers of Attorney. We do not provide a will writing service, but we can offer specialist advice on the role of wills and powers of attorney in estate planning and management, as explained further here.
- Bereavement advice. If you have suffered a recent family bereavement, we can help you through the often challenging process of obtaining a grant of probate.