Estate planning

Many of our clients want to ensure that their assets are efficiently transferred to the next generation on, before and after their death. As part of the Comprehensive Financial Planning Service we will consider whether estate planning is necessary and provide advice as to what can be done to ensure assets are passed to the desired beneficiary in a timely and tax efficient way.

More often than not this will simply involve writing a suitable will using a qualified solicitor or will writing service to ensure that your estate does not become embroiled in a lengthy intestacy process. However, our planning may also involve arranging for life insurance and pension plans to be placed under trust to maximise the tax efficiency of these arrangements and ensure that their value is passed to the intended beneficiaries quickly and efficiently.

Some of our clients are Non-UK domiciled and in such cases special consideration needs to be given to estate planning due to the potentially punitive Inheritance Tax regime that can apply to non-domiciled individuals, especially those who are married.

Where your estate is larger or where more of the value is held in investments, we can analyse whether it would be affordable to make lifetime gifts to family members or whether more advanced trust structures, such as Loan Trusts and Discounted Gift Trusts, are suitable.

Lastly, where it becomes apparent that there will be a residual tax liability on death we may consider arranging a Whole of Life insurance policy to cover the liability and ensure the full value of your estate passes to your intended beneficiaries.