Estate Planning
Thoughtful estate planning can help you bequeath your wealth to the people and causes you care most about in a secure and efficient manner.
Minimizing Inheritance Tax
Inheritance tax is a wealth transfer tax, most commonly paid by the estate of a person who died. There are many strategies for mitigating inheritance tax, but it’s not always obvious which one is best for you and your family. Due to the complexities involved, many families delay legacy planning until it is too late to make a significant difference.
Speak to us early on so we can help you minimize your estate’s tax liabilities and create an estate plan that ensures your wishes are carried out. We can assist you in several ways:
- Determine how inheritance taxes will affect your estate.
- Consider using life insurance products to cover expected inheritance taxes.
- Explore the possibility of using pensions to alleviate inheritance taxes.
- Consider making tax-beneficial gits.
- Set up trust structures that create a tax-efficient legacy for your loved ones.
Estate Planning & Gifting
There is so much more to estate planning than attempting to minimize inheritance taxes. Providing your children and grandchildren with monetary gifts can have a substantial impact on their lives. Doing so while you’re alive gives you the chance to see your loved ones benefit from your wealth. We can help you design a lifetime gifting plan that is tailored to your family’s particular requirements.
Cashflow Modelling
However, it’s important that you don’t give away money that you’ll need to live on. Using our cashflow modelling, we can show you what you can afford to gift during your lifetime without compromising your standard of living.
Take Control with Trusts
Trusts are useful for many reasons. They give you control over how future generations make use of your wealth and can minimize inheritance taxes. Trust can help:
- Protect your children and grandchildren if your surviving spouse remarries.
- Protect your children from their own marital disputes or other legal threats.
- Keep a lump sum outside your estate that may not be subject to inheritance tax.
- Control how assets are dispersed, especially for those that may be young or unable to manage their spending properly.
