Estate Planning

What is estate planning and is it relevant to me?

Estate Planning is the process of managing ‘your estate’ during your life and then the disposal of it after your death, whilst minimising all elements of taxation including Inheritance Tax (IHT) and Capital Gains Tax (CGT). Simply put, your estate is everything you own – your home, your car, bank and savings accounts, investments, life insurance, income protection etc.

Without taking the right advice and planning accordingly then HM Revenue and Customs could become the greatest beneficiary from your estate following your death. When you’ve worked hard and invested carefully to build your wealth, you want to look after it. Having a well-managed estate can save time and legal costs in the long term, help avoid a large Inheritance Tax bill, and cushion the blow for those you leave behind.

It’s important to start with a clear picture of your goals. You may want your estate to provide ongoing income and security for dependents, to make bequests or to set up Trusts. Everyone’s circumstances are different – planning can look at tax-efficiency and maintaining access to income and capital. It can also include protection from irresponsible beneficiaries, or to provide for vulnerable or minor beneficiaries. We can also help you assess and minimise any risk to your inherited assets, for example from divorce or bankruptcy.

Wealth preservation and the transfer of your wealth is not just for the super-rich. It is essential for anyone who wants to ensure that their loved ones benefit from their inheritance and are not burdened by it.

When developing an effective estate plan our independent advisers will discuss with you:

We have prepared a Guide to Estate Planning which you may wish to refer to.

Looking to preserve your wealth and transfer it effectively?

The accumulation of your assets and wealth will have come from hard work and determination. So protecting this is essential. Preserving your wealth and transferring it effectively is an important part of wealth management, no matter how much wealth you have built up. It’s the process of making a plan for how your assets will be distributed upon your death or incapacitation. To discuss your situation, please contact us.

Insights from the experts

Read the latest pension and investment news, retirement planning tips and mortgage guidance available in our range of Smart Money guides, magazines and blogs.

Shaping your future financial security and independence We make countless choices on our unique journeys through life that shape our future financial security ...
Pension Tips - What really important retirement questions should you be asking? As you approach the last five years ...

Seasonal Selling

The rhythm of real estate Considering selling your home and venturing further up or down the property ladder? Timing ...

The value of investments can fall as well as rise. You may not get back what you invest.

Past performance is not a reliable indicator of future results and targets are not guaranteed.

A pension is a long term investment. The fund value may fluctuate and can go down. Your eventual income may depend on the size of the fund at retirement, future interest rates and tax legislation

Trusts are a highly complex area of financial planning. Information provided and any opinions expressed are for general guidance only and not personal to your circumstances, or are intended to provide specific advice, professional financial advice should be obtained before taking any action.