Estate Planning & Inheritance

An important part of financial planning and wealth management is planning for events that are hard to think about and hopefully a long way off. But estate planning isn’t just about what happens when you pass away and what happens to the wealth you have built, it’s also about enjoying life now – making sure you have enough money to fund the life you want, for as long as you need it. Our estate planning service considers what you will need for the remainder of your life, what you can expect to be able to pass on and how to do this in the most tax-efficient way.

Passing on assets

Passing on your wealth doesn’t necessarily mean passing on all control of it. Perhaps you would like assets or funds to be used for specific purposes, such as for school fees or property, or you want to ensure it remains in specific hands, or tied up in a trust for a pre-determined period – whatever you want your wealth to do, wherever you want it to go, we will make sure it happens.

Your will

Even the best laid plans can fall apart if they haven’t been formalised in a will. What you include in your will, and even how you word it, is extremely important to ensuring your wishes are acted upon exactly as planned. There are also tax implications. Our advisors can ensure your will is comprehensive and unambiguous.

Inheritance tax

Inheritance tax is of course a major consideration in estate planning. Our advisors can calculate how much your beneficiaries may have to pay and, where appropriate, can recommend ways to structure and organise your estate and ownership of assets and investments to reduce the financial impact of your death. They can also help you plan for future costs, for example care fees, and calculate what you could afford to give away now, if you wished to, without compromising on your lifestyle or risking future plans.

Making the most of your pension

Pensions are a key part of estate planning as, if you can afford not to touch it, they can be passed on tax-free – if you can live off other assets in your retirement, you could hugely reduce the size of your taxable estate meaning a much smaller inheritance tax bill.

Interested to hear more ?

Reach out to our friendly team today.