Protecting Your Estate

Protecting Your Investment

Inheritance tax rules have changed considerably in recent years so it is important to understand their implications. It is all too easy to be unnecessarily caught out, so your family and other beneficiaries don’t receive what you hoped. We can help you with thorough and expert estate planning that takes into account the tax implications associated with different types of assets i.e. personal and business. For example if you have business assets they may no longer attract business relief when you retire.

Effective estate planning

It is natural that many of us want to leave our wealth to those who matter the most. Having a well-managed estate can save time and legal costs in the long term, help avoid a large tax bill, and cushion the blow for those you leave behind.

We can look at trusts as well as identify and minimise the tax liability on your estate, ensuring that the wealth you spent a lifetime building is there for you when you need it most and ultimately passes on to the people you want to have it.

You may also need to consider later life planning, not just to enable you to reduce your Inheritance Tax exposure, but to secure an income should you need long term care in the future.

Factors to consider in inheritance planning

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’ll help you assess and minimise any risk to your inherited assets, for example from divorce or bankruptcy.

Keep your tax and inheritance planning up to date

Inheritance Tax rules change at such an alarming rate that it can be difficult to keep pace. The last 3 Chancellors of the Exchequer have all changed Inheritance Tax legislation and this has led to many people being caught out – it is therefore imperative that you regularly review your estate planning with a trained professional.

For a free, no obligation consultation; just complete the form below or call us on 0114 2588899.

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