Estate Planning

Estate planning.  The truth is, it’s probably something you’d rather not think about. But we feel sure that you would rather leave your hard earned money to your loved ones rather than the government through inheritance tax. Some carefully financial planning now could ensure that your family live a better life in the future. But it might also mean that you can do more of the things you enjoy right now.

Do I need to worry about Inheritance Tax?

Many people won’t need to worry about inheritance tax (IHT) at all. The majority of people can pass on the first £325,000 of their estate without paying IHT. We call this the nil-rate band. On top of that there is a further allowance of £125,000 relating to a person’s home. Also, most inheritance transfers between married couples or civil partners are completely free of IHT.  Any unused nil-rate band can also be transferred from one partner to another.

Regardless of whether you might end up paying IHT or not, you really should make sure that you’ve written a will. This is the best way to ensure that your estate will be divided up in the way that you want.

The real difficulty many people can face is not knowing how much you might have to pass on to your loved ones at some point in the future. We can help you to work out how much this might be by creating a financial plan for you.

We can help with your estate planning

The most important first step in estate planning is ensuring that you have enough money to live your life. We can work with you to build your financial plan, which will show you how much money you need.

Once we’ve made sure you have enough money, there is a range of options we can look at.  We can make sure that you make the best use of all your reliefs and exemptions, plan gifts and look at how trusts might be useful.

Many people leave estate planning until later on in their lives.  But it is much easier make an effective plan if you start sooner.  Our expert financial planners are here ready to help you.