Estate Planning
Few of us like to think about dying, but equally few of us could live with the thought that we have not made adequate provision for family and friends who survive us.
The legislation that governs passing on your estate to your chosen beneficiaries requires you to plan well in advance. Since none of us knows when we shall die, this means making the necessary provisions now.
Inheritance tax (IHT) used to be referred to as a 'voluntary tax' for the very wealthy, but with the recent dramatic increases in property values without a corresponding increase in the IHT threshold, many more estates have come within the Taxman's reach.
The earlier you make the arrangements, the greater your chance of taking full advantage of the tax opportunities available and thereby maximising the amount that goes to your beneficiaries. Nothing is more demoralising than the thought that a substantial slice of the wealth you have worked hard to accumulate will end up in the Government's bank account.
It is equally important when planning to transfer your estate that you make adequate provision for yourself and your partner in your later years. Striking this balance calls for considerable skill and foresight - and a detailed knowledge of the tax regime.
We provide a confidential estate planning service that includes:
- Help with planning or reviewing your will
- Making full use of exemptions and lower tax rates on lifetime transfers
- Optimising lifetime transfers between spouses
- Transferring agricultural or business property
- Transferring assets into trust
- Considering adequate life assurance to cover potential inheritance tax liabilities
We strongly advise you to begin your estate planning right away by contacting us for a preliminary review.