Estate Planning helps protect your hard earned assets from 3rd parties after you are gone
You can protect against:
- Inheritance Tax
- Remarriage – if you don’t wish to leave your estate to your partners’ next spouse
- Long term care fees – to protect your assets for your family
- Loss of assets by wayward or troubled dependents – maybe due to drug or alcohol dependency or gambling addiction, or from a potential future divorce or bankruptcy
In addition you can ensure you:
- Provide for those with disabilities without risking their eligibility for means tested State Benefits
- Make provision to protect your Business and your employees
Estate Planning normally makes use of Trusts in your Will to protect your assets. Think of a Trust as a separate entity. Your choice of Trustees control the Trust. You list the beneficiaries of the Trust and what are their entitlements to Income and capital. There is a mass of Legislation around the use of Trusts and this needs careful professional guidance.
You can also ensure the continuity your Business after your death, or ensure your family do not lose out on your business’ entitlement to the 0% Tax applicable to Business Property Relief.
Civil Wills has taken the Diploma level qualification in this area with the Society of Trust and Estate Practioners STEP as an Advanced Willwriter.