“Inheritance Tax, is broadly speaking a voluntary levy paid by those who distrust their heirs more that they dislike the Inland Revenue” : Lord Jenkins
This is one of our key areas of expertise which has been developed over several decades of advising families on how best to share their wealth across the generations within their family. Estate planning is automatically part of our initial and regular review service. This approach allows us to help people to deal with this matter in smaller chunks rather than leaving it very late and then needing to make dramatic changes, perhaps precipitated by poor health or the realisation that it has all been left too late.
This is a complex area with huge scope for planning and our advice can make an enormous difference in terms of protecting the family wealth and directing it to the individuals and charities that are most important to you.
We start the process with an overview of your situation which will include a detailed Inheritance Tax calculation and a lifetime cashflow forecast to project forwards how your estate is likely to grow or diminish based on your spending pattern and assets. We will then work with you to create the best strategy and a bespoke estate plan incorporating strategies that you are comfortable with. This could include regular gifts from income; larger lump sum gifts; establishing family trusts and setting up investments benefitting from full Inheritance Tax exemption after just two years.
Our team of four advisers and four technical staff hold specialist taxation and trust qualifications as well as including two fellows of the Personal Finance Society.
We take time to get to know you and your family and to assist with the timing and amounts of lifetime gifts. Where our clients hold substantial assets our support and guidance can often extend across several generations. We can, therefore, advise the recipients of the gifts on how to make best use of their funds based on their own individual goals and aspirations.