Estate planning - Passing on a lifetime's wealth to those you choose

Few of us like to think about dying, equally few of us could live with the thought that we have not made adequate provision for family and friends who survive us.

When you have spent a whole lifetime building up your personal wealth you want to think that upon your death your estate will pass into the hands of your chosen beneficiaries and not into the hands of the Taxman.

And yet, all too often, we meet clients who are shocked at how much of their inheritance is taken from them before they even see it! At present rates the Taxman can take up to 40% of your estate! Yes, almost half its value!

With the recent dramatic increases in property values without a corresponding increase in the Inheritance Tax threshold, many more estates have come within the Taxman's reach.

This makes estate planning all the more necessary - and all the more urgent.

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.

Lifetime gifts, the judicious use of trusts and care with transfer of agricultural and business property can all help to reduce IHT liability.

It is also possible to mitigate potential inheritance tax liabilities by arranging adequate life assurance cover.

We can help you with your estate planning, including succession planning and business exit strategies.

We can also help with the drafting and updating of your will and, where appropriate, act as trustees or executors.

We strongly advise you to begin your estate planning right away by contacting us for a preliminary review.

Call 0115 9324254 today to discuss how we can help you preserve as much of your wealth as possible for your chosen beneficiaries.