Estate planning

Our team can help you to establish how to pass on your wealth in the most tax-efficient way, giving you peace of mind for the future.

Many of our clients would like to pass on wealth to their loved ones before and after they’re gone – and do so in the most tax-efficient way. There are various rules that govern the gifting of assets. Trusts can also play a key role in financial planning for individuals and families.

In the right circumstances significant savings can be made without adversely affecting the client’s own requirements, adding in flexibility and allowing clients to achieve their goals, whatever the future may bring.

With that in mind, the key is balancing the most tax efficient option together with a lifetime financial model with a number of considerations -

  • The current liability based on the value of the individual and joint estate
  • Special factors such as health or family circumstances
  • Current and projected annual cost of living and capital costs
  • A review of any surplus assets or surplus income
  • Current and projected annual income post tax
  • What capacity exists, if at all, to gift assets or surplus regular income that won’t affect your plans
  • Whether there’s a will or power of attorney in place

Further details on inheritance tax and trusts can be found in the following guide.