Estate Planning
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Estate Planning
Effective estate planning encompasses various elements — from drafting a will that reflects your wishes to setting up trusts for tax efficiency and protection, and making arrangements for the possibility of future incapacity.
It’s not just about the end of life but about structuring your affairs to provide for your loved ones and for causes close to your heart, at any stage.
Our Estate Planning Expertise
Inheritance Tax Mitigation
Inheritance tax can significantly impact the estate you leave behind, but with strategic planning, its effects can be mitigated. We explore avenues such as gifting, the use of trusts, and investments in tax-efficient vehicles, always within the framework of current tax legislation and potential future changes.
40% Tax Duty
In relation to inheritance tax, we can help you navigate this tax threshold, ensuring that your beneficiaries are not unduly burdened after your passing. Together, we can put together strategies that are not only compliant with tax laws but are also optimised to safeguard as much of your estate as possible within the legal allowances.
PETs
Potentially Exempt Transfers (PETs) allow you to make gifts of any value which, provided you live for seven years after making the gift, will be exempt from inheritance tax.
Making Sure Your Wishes Are Honoured
Creating a trust allows you to place assets under the stewardship of chosen trustees for the benefit of designated beneficiaries, which can be instrumental in reducing inheritance tax burdens, protecting assets from creditors, and maintaining control over the future distribution of your estate.
When you set up a Discounted Gift Trust, you make an initial lump sum investment that is partially treated as a gift, potentially reducing your estate’s value immediately. This ‘discount’ is usually outside of your estate after seven years, while you continue to receive regular payments that can be planned for your living expenses.
We can help you maximise your disposable income through meticulous financial planning and smart budgeting. We offer personalised advice on how to optimise your cash flow, reduce unnecessary expenses, and utilise tax-efficient savings vehicles to enhance the funds at your disposal.
Annual Exemptions offer opportunities to reduce your taxable estate each year. Each fiscal year, individuals are granted allowances that can be gifted without incurring inheritance tax, such as the annual exemption gift limit or small gifts allowance. Utilising these can significantly impact the taxable value of your estate over time.
Shape Your Financial Future
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Case Studies
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