Estate Planning (Inheritance Advice)

Estate Planning does not just apply to the wealthy – more and more individuals and families are falling into the Inheritance Tax trap because of the value of their estate, which in many cases has increased significantly because of the value of their homes.  Consequently, the process of Estate Planning is critical to ensuring your estate is not subject to the 40% Inheritance Tax (IHT).  Inheritance Tax becomes payable when ownership of assets are transferred of death and, in some cases, also during a lifetime.  

Estate Planning and Inheritance Advice

What Is Estate Planning?

Generally, Estate Planning covers a number of advice areas, which may require the expertise of a trusted legal adviser, tax adviser and financial adviser.  These areas could include:

  • Writing or updating a will
  • Ensuring an existing will is valid
  • Establishing trusts
  • Arranging investments in a tax-efficient way
  • Ensuring beneficiaries
  • Utilising all available allowances and exemptions
  • Gifting
  • Transferring ownership of property
  • Use of insurance

What Is The Benefit Of Estate Planning?

Estate Planning is not a one-time advice process – it requires regular reviews in line with your changing circumstances and the circumstances of your family.  The many benefits of Estate Planning include:

  • The reassurance of knowing those you care about will be provided for
  • Preservation of wealth rather than paying tax when it can be avoided
  • Avoiding disputes between family members 
  •  Ensuring funeral arrangements can be made simple at a difficult time for your family

Inheritance Tax is a complicated matter so it is important to seek independent financial advice from an adviser experienced in such matters.  Investment Solutions can provide expert Estate Planning advice, dovetailed with the right legal advice you may require for will-writing, providing a holistic approach to protecting your wealth.


What Forms My Estate?

A person’s estate includes:

  • Property
  • Investments
  • Insurance
  • Pension Income
  • Other Assets
  • ‘Gifts with Reservation’
  • Jointly-held assets