Estate Planning: Protecting Your Wealth for Future Generations

Estate planning is your chance to decide how your wealth lives on and to shield it from taxes or mismanagement. Without a plan, the government could claim up to 40% of your estate, leaving your wishes unfulfilled.

What Is Estate Planning?

Estate planning is the process of directing where your assets go while ensuring a smooth, tax-efficient transfer. It goes beyond just a will, it’s a strategy to protect your wealth and honour your intentions.

Here’s what you need to know:

• Wills: A clear, binding document that specifies how your assets are distributed. It’s vital to create one and review it regularly.

• Trusts: Tools to control how and when your assets are passed on, offering flexibility and security. 

• Annual Exemption: Gift up to £3,000 each year without inheritance tax (IHT) consequences.

• Surplus Income: Give away excess income without triggering IHT.

• Potentially Exempt Transfers (PETs): Gifts to individuals become tax-free if you live for seven years after giving. 

Using these strategies, you can reduce tax liabilities and ensure that more of your wealth reaches your loved ones.

Why Estate Planning Matters?

It’s about security and legacy:

• Legacy Control: Guarantee your wishes are followed, not left to chance.

• Family Harmony: Clear plans help prevent disputes among heirs.

• ​Tax Mitigation: Minimise taxes to maximise what your family inherits.

Ready to Safeguard Your Legacy? 

Too many estates are eroded by avoidable taxes, don’t let yours suffer the same fate. Take control today. Contact us for a free consultation and start protecting your wealth now.