Estate planning
Donāt leave it too late, start planning now
Many of us would like to be able to leave a legacy to our loved ones when we die, but have you thought about the impact it might have on your family when the time comes? Traditionally thought to just be a tax on the very wealthy, Inheritance Tax could end up being a larger financial burden than you originally thought. By planning ahead, you can ensure that the wealth youāve accumulated goes to the right people at the right time.
āBut I already have a will, doesnāt that mean my estate will be fine?ā
This is a common misconception we hear from our clients. Whilst it is important to ensure your will is up to date, this alone is often not sufficient to address the amount of tax payable on your estate. By working with us, we can help ensure not only a minimised tax bill, but also that your family will be looked after when youāre no longer here.
If you want to put in place a plan, contact us today to arrange a complimentary, no obligation appointment to discuss how we might be able to help.
Ā£
200000
The average Inheritance Tax bill in the UK is more than Ā£200,000
Source: HMRC/NFU Mutual
Hereās how we can help
Inheritance Tax
Inheritance Tax (IHT) is typically charged at 40% on anything above your nil rate band, meaning you could face a significant tax bill without careful planning. We can help you plan ahead, so it doesnāt become a burden.
Weāll help you understand how much tax will be payable on your death, then explain the steps you can take to reduce your IHT bill. By taking action today, we can help ensure that more of your wealth goes to your beneficiaries, rather than HMRC. Just get in touch to find out more.
Gifting
Making financial gifts can be an effective way of managing the amount of tax payable on your estate. But it can become a complex area of planning and is something that requires specialist advice. Thatās where we can help.
Weāll help you understand the options available, including lifetime gifting and gifting into trusts. We will also ensure youāre aware of any allowances available, and agree a strategy for utilising them. With the right kind of planning, you can ensure your family benefits in both the short and long term.
A joined-up approach
We find things work more effectively when theyāre underpinned by great communication. Weāll work with your other tax and legal professionals throughout the estate planning process, ensuring a cohesive and joined-upĀ approach to your affairs.
The right strategy for you
Weāll clearly explain the pros and cons of the strategies available to you, and how they might impact each other. Whatever your requirements, weāre here to ensure you and your family have the right solutions in place, so you can have peace of mind for the future.
The Financial Conduct Authority does not regulate tax advice. Levels and bases of taxation may be subject to change and their value depends on the individual circumstances of the investor.
Private client form
Whether you have an existing portfolio that you need to review, your current adviser has let you down, or your surplus cash is not working hard for you, we can help.
Call us today to arrange a complementary, no obligation meeting to discuss your circumstances.