Wills and Estate Planning
Preserve your wealth for future generations by securing your family's financial future after your death or incapacity.
Before making a will, it is important to consider the value of your estate both now and in the future. Estate planning is straightforward and will help you plan what you wish to include in your will. Completion of the process will enable you to calculate the estimated Inheritance Tax liability arising when each of you dies. This knowledge will enable both of you to plan the terms of your wills so that you achieve a sensible balance between the practical needs and tax saving.
A will is a legal document that sets your wishes regarding the distribution of your property (and the care of any minor children).
A trust is a way of managing assets (money, investments, land or buildings) for people. There are different types of trusts and they are taxed differently.
Estate Planning
Your estate is made up of all that you own: your car, home, pension, savings & investments, life insurance, furniture, personal possessions etc. No matter how large or small, everyone has an estate.
Estate planning can include legal, funeral and inheritance plans that give you and your family protection and peace of mind, now and in the future.
Wills
Failing to make a will could see your assets divided according to intestacy rules, making a will is critical in inheritance tax (IHT) planning and it is important to make sure it is well written and planned.
Making the most of the tax reliefs available and ensuring your assets go where you want them a carefully drafted will can help plan your IHT appropriately.
It is important to regularly review your will to make sure it is kept relevant to your changing circumstances and to store it securely (which we can arrange for you).
We can take your will instructions and ensure that your will is drawn up to ensure the maximum protection for your beneficiaries.
Powers of Attorney
A will may protect the interests of your beneficiaries in the event of your death, but who will look after your interests if you are unable to take decisions for yourself?
A Lasting Power of Attorney can protect your interests by vesting authority in those you trust to make decisions on your behalf. Lasting Powers of Attorneys can be Welfare Attorneys, chosen to make decisions concerning your care if you are incapacitated, or Property and Affairs Attorneys, chosen to help you manage your financial affairs.
Trusts
A trust's main value can be to keep your estate out of probate after your death.
A trust remains an agreement between an owner of assets and the chosen trustees. The trustees legally own the assets of the trust, but are not allowed to benefit themselves (unless they have also been named as beneficiaries).
Trust planning can provide significant tax planning opportunities, as well as protect your beneficiaries from a range of future risks to their finances.
We can advise on a broad range of trust planning, that can protect your needs and the needs of your beneficiaries.
The Financial Conduct Authority do not regulate advice on wills, powers of attorney or trusts.