Estate planning

Have you made preparations for your estate in the event of your passing?

Although no-one likes to think about dying, it is important to ensure that you have made provisions for loved ones and other beneficiaries of your estate well in advance.

The legislation that governs passing on your estate to your chosen inheritors requires you to plan far ahead. Since none of us knows when we shall die, this means making the necessary preparations now. The earlier you make the arrangements, the greater your chance of taking full advantage of the tax opportunities available and thereby maximising the amount that goes to your beneficiaries. The last thing you would want to happen is for the taxman to swallow up a large proportion of your beneficiaries’ inheritance.

At present IHT rates, the Taxman can take up to 40% of your estate!

Inheritance tax (IHT) used to be referred to as a 'voluntary tax' for the very wealthy, but with the recent dramatic increases in property values, many more estates have come within the Taxman's reach.

There are a number of ways to reduce the potential tax liability on your estate, but they all involve careful planning - often over a long period. This is where we can help.

We provide a discreet estate planning service that includes:

• Putting you in touch with the relevant professional who can help with drawing up and reviewing your will
• Making full use of exemptions and lower tax rates on lifetime transfers
• Optimising lifetime transfers between spouses
• Transferring agricultural or business property
• Transferring assets into trust
• Arranging adequate life assurance to cover potential inheritance tax liabilities
• Estate planning, including succession planning and business exit strategies.

Begin your estate planning right away by contacting Mike Kirby on 01730 234500 to arrange a preliminary review.