Estate planning
Few of us like to think about dying, but equally few of us could live with the thought of having not made adequate provision for the 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.
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 hands!
It could be said that the art of inheritance tax planning is to give away as much as possible when alive whilst keeping enough to ensure you and your spouse can live a comfortable and fulfilling life in retirement. Striking this balance calls for considerable skill as well as a detailed knowledge of the tax regime.
We provide a discrete estate planning service which includes:
- Help with drawing up and 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
- Arranging adequate life assurance to cover potential inheritance tax liabilities
We strongly advise you to begin your estate planning right away by contacting us to arrange a preliminary review.