Estate and Inheritance Tax Planning
Like all our services, our Estate Planning begins with your objectives and needs whilst considering how they may change over time. We don’t just manage investments; we also consider how we can apply all of our resource to help you with planning for all objectives. Regular meetings with your adviser help us to ensure your plan is up to date and always ready for whatever challenges and opportunities come along. It’s this holistic and long-term approach that sees us looking after the needs of families for generations
It’s important to start thinking about estate planning sooner rather than later. There are ways to help minimise inheritance tax. These could include:
- Making gifts to family and friends before you die
- Setting up a trust fund for those you want to benefit from your estate
- Putting your life and pension policies into a trust so they’re not included as part of your overall estate
It’s also important to consider what you will need in retirement and the possibility of paying for care. Social care isn’t free, so you will need to pay for some of your care. Gifting away money or property to mitigate care costs is known as deprivation of assets. If your local council concludes you have deliberately reduced your assets to avoid paying care home fees, they may still calculate your fees as if you still owned the assets.
We’re here to help you consider and understand your options for all of life’s milestones. The aim is to help you and your family prepare for the future. We are able to help navigate the complexities of estate planning and inheritance tax. By helping you with inheritance tax mitigation, we can help you pass on your wealth tax efficiently. We can help with a range of protection solutions, including life assurance to protect your family.
Our services cover:
- Family protection
- Investment structures & tax efficient savings
- Estate and inheritance planning
- Retirement planning and pensions
- Lifetime cash flow modelling
Speak with out Managing Director and Adviser, Andrew, to see how Parker Kelly can help with your Inheritance Planning!
