What is Estate Planning?
Estate planning is looking into all your options and how you can protect the ones you love after you're gone. Estate planning details all your assets and how they'll be controlled, even in the event of you being incapacitated.
Estate Planning can be hard to think about
Our estate planners can make sure that you maximise the legacy you leave behind for your family and avoid costly tax bills, including potential inheritance tax issues. We know that it can be difficult to understand and discuss these matters but we’re here to guide and support you and your decisions, and advise on how to make things a little easier for everyone.
What is Inheritance Tax?
Inheritance Tax is a tax imposed on the total estate of someone who has recently passed away. This includes any property, money or possessions the deceased owned when they died.
Why is it important to plan?
If you don’t fully map out what you want to happen to your estate when you are gone, then you run the risk of that decision being made by a third party, which could go against your wishes. By planning in advance and ensuring all your requirements are clearly detailed, you’re creating a stable and legally established pathway to distributing your belongings/assets according to your wishes.
What can I include in an Estate Plan?
You can include anything in regards to your wishes, such as your Will, your funeral requirements, next of kin, power of attorney, dividing of the estate and anything you feel should be noted in the unfortunate event of you passing away or becoming incapacitated.