Trusts
Inheritance Planning
Estate planning options
Paying for care
Estate Planning with Parker Kelly
Thoughtful planning allows individuals to take advantage of allowances, exemptions, and appropriate structures to preserve wealth and provide clarity and peace of mind.
Parker Kelly Financial Services play a crucial role in this process by offering impartial, tailored advice that reflects personal circumstances, family needs, and long‑term goals. With expert guidance, estate and inheritance tax planning can become a proactive strategy rather than a reactive burden, helping families secure their financial future with confidence.
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
What are your Options.
The first step is to establish if your estate is likely going to pay inheritance tax. During the initial meeting we can establish the value of your estate.
We will also establish what assets are essential and needed, what you want to keep and what may be considered surplus.
Surplus assets that can be gifted or placed in a Trust
Essential Assets
Main residence
State Pension
Final Salary Pensions
Assets needed for day to day
Assets needed to cover holidays, emergency costs and a safety net
If your estates value means IHT will be paid then you have a few options:
Keep the assets and your estate can pay the tax
Insure against the inheritance tax
Spend it
Pass on your wealth
Keep the assets and your estate can pay the tax
We work closely with clients who wish to retain certain assets within their estate while still planning effectively for the future. This may include family homes, business interests, or long‑term investments that hold personal or strategic importance.
By taking a holistic view of a client’s financial position, our advisers can help balance the desire to keep these assets with the need to provide liquidity, manage potential inheritance tax, and ensure beneficiaries are supported.
Through tailored strategies we can help clients maintain control of valued assets while shaping an estate plan that is both practical and tax‑efficient.
Insuring against inheritance tax.
Insuring against a potential inheritance tax liability can be an effective way to protect your estate and ensure your beneficiaries are not forced to sell assets to meet a tax bill.
This is commonly achieved through carefully structured life assurance policies, often written in trust, which can provide a tax‑free lump sum on death to cover all or part of any inheritance tax due. By placing the policy in trust, the proceeds typically fall outside of your estate, are paid quickly to the intended beneficiaries, and can be used to settle tax liabilities efficiently.
Our advisers provide independent advice, this approach can form a key part of a wider estate planning strategy, providing certainty, flexibility, and peace of mind for you and your family.
Spend it
We support clients who wish to enjoy and spend their wealth confidently throughout retirement, while maintaining long‑term financial security. We use detailed cashflow analysis to help clients understand how their income, savings, pensions, and investments can be drawn on in a sustainable way over time.
This forward‑looking approach models different scenarios, such as changing expenditure, market conditions, or unexpected costs, to show how assets may reduce while still meeting lifestyle goals.
With clear insight into affordability and risk, our advisers can recommend appropriate withdrawal strategies and portfolio structures, giving clients the confidence to make the most of their retirement without the fear of running out of money.
Pass on your wealth
Intergenerational wealth planning can be both technically and emotionally complex, as it involves not only tax rules and financial structures but also family dynamics, differing expectations, and sensitive conversations about legacy and fairness.
Decisions made today can have long‑lasting consequences for future generations, making it essential to approach planning with care and clarity. Our advisers can help navigate this complexity by providing impartial, expert guidance tailored to both financial objectives and personal values.
By coordinating technical solutions with thoughtful discussions, we help clients make informed decisions, manage potential risks, and create a clear, sustainable plan that supports family harmony while ensuring wealth is passed on in line with their wishes.
Estate planning options
It’s important to start thinking about your options for 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
Paying for care
Planning for care in later life can be complex, with costs varying significantly depending on individual needs, location, and the type of care required. Understanding how care is funded, whether through personal assets, local authority support, or a combination of both can be challenging, particularly when rules around means testing, property, and taxation come into play.
Our advisers can provide guidance and support to clients on the risks associated with making gifts or placing assets into Trust and making provisions to ensure care costs can be met in later life.
Estate & Inheritance Tax Planning in the North West & across the UK?
Get in touch with our team to arrange your initial consultation.
We cover the following areas in the North West:
We operate throughout the UK. Get in touch with our team to arrange your initial consultation.