Nobody likes to think or talk about their passing and what might happen to their loved ones after they are gone. However, death is inevitable, so it is best to be prepared for it. If you don't have a proper will or estate plan in place, your assets may not be distributed according to your wishes and your family could face a higher inheritance tax bill.
Estate planning is the process by which we try to help an individual to grow, preserve and manage their wealth in the most tax efficient way possible throughout their lives. Then, when the time comes, we distribute their hard-earned assets after death with emphasis on the same tax efficiency. All the while, we strive to protect each beneficiary from exposure to third party threats such as divorce and bankruptcy.
Estate planning includes planning for incapacity, conducting a review of a person’s assets, ensuring the probate process runs smoothly and maximising the value of the estate. For example, by reducing taxes and other expenses.
The ultimate goal of estate planning is determined by your specific objectives and priorities and may be as simple or as complex as your needs dictate.
At Trust & Succession Planners Limited, we will provide you with professional estate planning services that will adapt to your needs and changing circumstances such as pending retirement, future financial needs, changing relationships and the arrival of children. Our consultants bring substantial knowledge and experience in assisting clients with structuring their assets and estates.
Let us help you ensure your estate is protected and that you leave behind an enduring legacy for your family, friends or a charitable institution.
Wills
A will, sometimes called a last will and testament is a document that gives your instructions for what should happen to your property after you pass away. In a will you can also name guardians for your minor children and provide for your pets.
Lasting Power of Attorney (LPA)
An LPA lets you appoint one or more people (known as attorneys) to take care of your affairs if you become unable to make important financial or health-related decisions.
Trusts
A trust is a useful estate-planning tool to safeguard your financial assets for a particular purpose or other people, even if you're not wealthy.
Trusts can benefit anyone who wants to manage how they leave their money. They give you control over who gets what, when they get it and how they get it.
Living Wills
A legal document that sets out your wishes regarding the nature and extent of the treatment you would like in the event you are unable to communicate your wishes.
Probate Services
The granting of probate is the first step in administering the estate of a deceased person. With our probate services, we can prepare all the relevant forms and administer the entire process for you in a timely and cost-efficient way.
Inheritance Tax Planning (IHT)
Inheritance tax is how much your estate pays the government after you have died. You may not be able to avoid paying it completely, but you can make it more tax efficient to maximise what you leave to your heirs.
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