In our opinion, passing on your wealth to loved ones is better planned sooner rather than later.
Like so many areas of personal finance, estate planning can be complex and time consuming. Our objective is to help you plan your wealth for you and your family in the most tax efficient manner.
The benefits of estate planning
- Mitigate any tax liability for your beneficiaries
- Provides you with peace of mind
- Helps you to ensure your wealth passes on to those you wish
How can Warren & Co help?
Before we do anything, we address a couple of fundamentals. The first is to ascertain the accurate value of your estate – as it stands now and what it might amount to in the future. Next, if you haven’t made a will, your consultant will recommend that you to do so. Once those tasks are done, we will then consider which estate planning options are best suited to you.
Your adviser will be considering the following possibilities and others
- Exemptions – there are a number you can use to reduce the value of your estate
- Gifts – subject to certain stringent conditions giving away assets can also reduce the size of your taxable estate
- Life assurance – does nothing to reduce IHT but the proceeds can help pay the tax on the death of the policyholder
- Trusts – using a properly constituted trust can substantially reduce or even eliminate an IHT liability
- Investments – a limited range of investments are exempt from IHT
Things to think about
- Could you list and value all of the assets you own?
- Do you know how you want to divide your estate?
- Do you have a current, up-to-date, will?
Within your planning you should ensure you leave yourself sufficient funds to live off.
Estate planning is not regulated by the FCA.
