Topic: Estate Planning

Wealth preservation

The 6 things you need to consider to help preserve your wealth

Whether you have earned your wealth, inherited it or made shrewd investments, you will want to ensure that as little of it as possible ends up in the hands of HM Revenue & Customs. With careful planning and professional financial advice, it is possible to take preventative action to either reduce or mitigate a person’s beneficiaries’ Inheritance Tax bill – or mitigate it altogether. These are some of the main areas to consider.

Making a Will

Secure more of your wealth for your loved ones

If a person wants to be sure their wishes will be met after they die, then it’s important to have a Will. A Will is the only way to make sure savings and possessions forming an estate go to the people and causes that the person cares about. Unmarried partners, including same-sex couples who don’t have a registered civil partnership, have no right to inherit if there is no Will. Another of the main reasons for drawing up a Will is to mitigate a potential Inheritance Tax liability.

Inheritance Tax

How do you leave a legacy which serves your family’s best interests?

Will you be one of the thousands of households in Britain that will have to pay Inheritance Tax? What’s the best way to avoid it? If you’re administering an estate because someone has died, how do you obtain probate? Is it ever possible to retrospectively minimise an estate’s tax liabilities?

Making investment decisions into old age

Seven in ten retirees have not set up a Lasting Power of Attorney

More than 615,000 pensioners are on course to make investment decisions into old age but new research[1] suggests tens of thousands have not set up a Lasting Power of Attorney (LPA), with seven in ten (70%) people in retirement not having set up an LPA.

Lasting Power of Attorney

Making decisions on your behalf during your lifetime

A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint one or more people to make decisions on your behalf during your lifetime. The people you appoint to manage your affairs are called the ‘attorneys’. An LPA is a completely separate legal document to your Will, although many people put them in place at the same time as getting their will written, as part of wanting to plan for the future.

Making a Will

Continuing your support long into the future

We spend our lives working to provide for ourselves and our loved ones. You may have a house or flat (in the UK or overseas), shares, savings, and investments, as well as your personal possessions. All of these assets are your ‘estate’. Making a Will ensures that when you die, your estate is shared according to your wishes.

Why silence isn’t necessarily bliss

Over six million adults refuse to discuss their Will with loved ones

Making a Will is very important if you care what happens to your money and your belongings after you die, and most of us do. But have you tried to talk with your parents about their Will? If that conversation isn’t happening, you’re not alone.

Inheritance Tax

No longer something that only affects the very wealthy

Inheritance Tax is no longer something that only affects the very wealthy, but the good news is that there are ways to limit the amount of Inheritance Tax your family may potentially face.

Wealth protection

Planning your legacy

Unforeseen life events and circumstances can potentially impact your finances in a number of ways. Believe it or not, you have an estate. In fact, nearly everyone does.