Manage and protect wealth

Estate planning organises finances to take care of your own needs and pass on wealth in a tax-efficient way - whether after death, to pay school fees, as lifetime gifts, or to help a family member to step on the property ladder.

Trusts and Inheritance Tax

A trust gets the right money to the right people at the right time.

In 2019/20, everyone has a tax-free threshold of £325,000 before IHT is applied, which means that a married couple can protect £650,000 in a trust, saving about £135,000 in tax at July 2019 rates – but there are conditions.

A trust can also protect wealth for a beneficiary from the consequences of a future divorce or bankruptcy. In practical terms, it also avoids waiting for a Grant of Probate before the money is distributed to those you want to receive it.

Later life provision

We can help you organise your finances to meet your wishes and needs, whatever uncertainties may lie ahead.

But funding for long-term care is not the only concern. It is important to think about mental or physical incapacity.

A Lasting Power of Attorney document gives peace of mind, allowing you to nominate trusted people to make welfare and/or financial decisions on your behalf if you are not able to do so. This can also include a Letter of Wishes to indicate further detail of how you would wish your assets to be used.

Similarly, a Lasting Power of Attorney can be used to make sure that your business is run according to your wishes if you become incapacitated.

Providing for dependants

Sadly, the unexpected can unsettle the finances of a family even mid-career and mid-life.

For many people, it will be important to ensure, for example, that school fees can still be met, or a mortgage paid off, in the event of their own death or incapacity.

Check your investments

Wealth needs to be managed to work efficiently. A balanced, regularly assessed investment portfolio can be a great defence against inflation, market volatility and capital erosion.

Don’t forget pension funds

Money locked into a pension arrangement is often significant, and where it goes after your death is an important part of financial planning, as is how to reduce the tax implications of any drawdown.

If you are looking to manage and protect wealth and would like some expert guidance, contact us to arrange to speak with one of our specialists in London, Kent or Sussex.

Contact our experts