Estate Planning

Protect Your Assets.

Having a Will in place is an important first step for everyone to take and for many people they feel it is the only step they need to take, however, there may be further work that could ensure that there is an added level of protection and safety for their assets and families, this is called estate planning.

Inheritance Tax

Inheritance tax (IHT) is a form of tax that is potentially paid on a person’s death. Each person in England and Wales has specific allowances for inheritance tax purposes, anything over these allowances is taxed at 40%. These would be discussed in detail with you during your appointment, as some would be more relevant than others.

Protection of Assets

During the course of your appointment, there may be circumstances where some further estate planning is needed to provide more protection for your assets, this is done by the use of Trusts. There are many different types of trusts that can be used to provide this protection, this would include:

Bereaved Young Peron’s Trust
Protected Property Trust
Vulnerable Person’s Trust
Discretionary Trust
Business Property Relief (BPR) Trust

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Duties of an Executor

22 Aug, 2024

When writing your Will, you'll find there are several roles you will need to consider - Executors being one of these. In this article, we outline the roles and responsibilities of an Executor and what you, as the testator, would need to consider when appointing them in your Will.

A child is playing with wooden dinosaurs on a table.

Why Guardianship Appointment Is So Important

30 Apr, 2024

If you have minor children, a guardianship appointment is one of the most important clauses to be put within your Will. A guardianship appointment will state you would look after your minor children if you were to pass away. If there is no guardianship appointment made, there is a strong possibility that the children would be placed in temporary foster care while local authorities decide who would be the best people to look after them. When deciding who to nominate as guardians, it is important to consider the following: Would they be able to look after your children Do they have the space Are their beliefs/values similar to yours Their location and would the children need to move A guardianship appointment can only be made by a person who has parental responsibility, this can be a confusing area, so this will be discussed during your initial consultation and advice around this area would be provided.

Estate Planning

Protect Your Assets.

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Want more information?

Duties of an Executor

Why Guardianship Appointment Is So Important