Leaving a Legacy
It can be unnerving to picture the world after you’re gone. No one wants to leave their loved ones behind. But there are certain steps you can take to help ensure they are looked after.
A lasting legacy is an achievable goal. But without proper planning your family could lose up to 40% of their inheritance through taxation. In the past Inheritance Tax (IHT) planning was simpler. However changes to tax rules mean structures like trusts now carry more tax risks and costs for the majority of people. However they continue to play a role in many of our clients’ family’s financial futures.
How will my investments and pension be affected by Inheritance tax?
We can help you to reduce the amount of IHT that would otherwise be payable by developing a bespoke strategy just for you using tools such as lifetime gifts, trusts, investing in tax-efficient share schemes, life insurance policies, and ensuring we use all available reliefs and exemptions.
How much of my wealth can I afford to gift away?
Financial planning and cash flow forecasting can help you understand how much of your wealth you can afford to gift now. It’s important to take into account your current lifestyle and ensure you have enough for your future.