Our work with clients on their estate planning centres on the following areas:
Inheritance Tax Mitigation
Many of our clients are understandably concerned about the level of IHT that might be due on their estates. We help clients implement advanced, non-contentious estate planning solutions, which often result in tax savings running into six figures or more.
While inheritance tax savings are of course desirable, many estate plans often overlook the other large threat to family wealth. We would broadly classify this second type of threat as ‘social impacts’, which could include the re-marriage of a spouse, the divorce of a child or the bankruptcy of a beneficiary, all of which can have a far larger impact on an estate than Inheritance Tax. For this reason, all of our estate planning solutions for clients consider the need to protect their estate, as well as minimise tax, and we will often include specific bloodline protection to ensure that family wealth remains in the family.
When someone passes away, it is their executors and family who have the responsibility of managing their estate. We often find at this stage that poor record keeping and general financial disorganisation can make this an incredibly stressful and time consuming task for loved ones. As such, as part of our estate planning work with clients we always look to simplify the estate if possible, to ensure that things are as easy as possible for those that we leave behind.