Passing On Wealth

We’ll work closely with you to understand how effective estate planning, which has emotional as well as financial consequences, can impact your overall wealth.

Advice for confidence

Importantly, before providing advice on inheritance tax planning, we’ll help you determine the level of wealth you’ll require to meet your own needs. This will ensure you can then gift with confidence and that you’ll have a clear understanding of what might be left over.

There are many approaches to giving money away. You may want to maintain control of your money for a period, consider the implications for different family members or want the money to be used for a particular purpose. Your personal views will inform the best route to take whether this be in the form of regular gifting, establishing a trust whilst you are alive, or protecting against an inheritance tax liability on your estate.

Legal Expertise

Many of our client’s key aims are to pass on their hard-earned money to their loved ones during their lifetime and after they’re gone, and do so in the most tax-efficient way. There are various rules that govern passing on wealth to the next generation. Trusts can also play a key role in financial planning for individuals and families.  We benefit from the expertise of our sister legal firm Blackadders LLP, who specialize in trust and estate planning.  This allows us to work collaboratively to provide the best outcome for our clients.

We can provide advice on areas such as:

  • How much you can comfortably give away
  • The nil rate band
  • The residence nil rate band
  • Expression of wishes
  • Spousal exemptions
  • Charitable gifting
  • Discretionary Trusts
  • Using life policies to cover an inheritance tax bill