Estate planning services

Preserving your legacy, protecting your loved ones.

When you spend an entire lifetime working to build up your personal wealth, you want to think that upon your death, your estate will pass on to the people and causes close to your heart. However, all too often legacies include a costly surprise: a large inheritance tax bill.

What is Inheritance Tax (IHT)?

IHT is a tax on the estate (the property, money, and possessions) of a deceased person. If your estate is worth in excess of £325,000, it can be subject to IHT – the current rate is 40% on the portion of the estate that exceeds the threshold.

How to reduce your Inheritance Tax (IHT):

There are several ways to reduce the potential tax liability on your estate. However, all involve careful planning – often over a long period of time, and well in advance. Furthermore, the tax rules involved in estate planning are complex, subject to change, and do require a detailed knowledge. To minimise IHT you might consider:

• Lifetime gifts – gifting assets during your lifetime to reduce the size of your taxable estate.
• Setting up trusts – properly structured trusts may allow you to pass assets to beneficiaries while minimising tax implications.
• Utilising reliefs and exemptions – e.g. business relief (inc. agricultural property), gifting between spouses.
• Arranging life insurance – to provide funds upon your death to assist your beneficiaries when paying any due taxes.

It is important to note that any plan to reduce IHT is essentially a balancing act, as it is important for you to still plan for your own financial future and current needs, and to enjoy yourself in your lifetime. It is therefore beneficial to seek the advice of a skilled and experienced accountant to help you to live life to the full now, and in the future.

How we can help you

Secure your legacy with our expertise.

We are highly-experienced in estate planning and have an expert understanding of all the ways to minimise the impact of IHT on an estate. We successfully navigate all of the complex tax laws, leaving you with the peace of mind that we have protected your future, properly. 

Let’s plan today to empower tomorrow.

Don’t delay! The earlier we can help you, the greater your chance of taking full advantage of the tax opportunities available, thereby maximising the wealth passed on to your chosen beneficiaries. Your legacy is our commitment so we aim to work with you throughout your lifetime as your trusted advisor, providing you with smart, stress-free financial advice. We will always aim to regularly review and update your estate plan to ensure it aligns with the current laws and meets your goals and ambitions.

What we do

Our estate planning service includes:

• • Discussions regarding your ambitions, future plans and drivers for estate planning
  • Help with drawing up and reviewing your will, and where appropriate, the ability to act as trustees or executors
  • Arranging adequate life assurance to cover tax liabilities
  • Making full use of exemptions and lower tax rates on lifetime transfers
  • Optimising lifetime transfers between spouses
  • Transferring agricultural or business property
  • Transferring assets into trusts

Please do get in touch to hear about our services in more detail.