Inheritance Tax can impact the assets passed on to loved ones, currently taxed at 40% above certain thresholds. However, strategies like legacy giving can reduce inheritance tax. Legacy giving involves allocating a portion of assets to a charitable cause in your Will, reducing IHT from 40% to 36% when donating at least 10% of your estate to charity. Find out more about your allowances and how legacy giving could become part of your estate plan.
Read MoreThe end of the year has come around so quickly, I can’t believe it’s time to start planning for 2023 already!
I want to share a checklist to help you get financially prepared for 2023. If you manage to tick all of these off, you’ll have the clarity and confidence to make your financial plans a reality.
Read MoreDid you know you can reduce your inheritance tax rate from 40% to 36% through charitable gifting in your Will? This could result in a significant reduction to any large inheritance tax bill. Watch to find out more.
Read MoreFor many, the prospect of passing on wealth to future generations is a significant motivation for carrying out financial planning. Knowing that your hard-earned nest egg is going to be used to help loved ones with major milestones such as going to university, getting married or buying a house can be extremely gratifying.
Having a conversation with your family about your intentions is not always easy especially when managing other’s expectations. Read on to find out how we can help.
Read MoreIf you have disabled or vulnerable beneficiaries and you are thinking about setting up your Will, there are a few things you need to think about. It may be possible to create a Disabled Will Trust, which is a type of trust where a third party manages assets on behalf of the beneficiaries. One of the benefits of setting up this type of trust is that it provides substantial tax advantages.
If you would like to know more about this type of trust, including what you need to consider, when it is applied for and what to think about when nominating trustees, watch this 10 minute video from Independent Financial Adviser, Richard Higgs.
Read MoreIn this video, Richard Higgs takes you through why you need a Will, and crucially, what happens if you don’t have a valid Will in place. Take steps today to ensure your estate is treated according to your wishes.
Read MoreMany people have simple estates which are straightforward to organise. For others, a Will is just the first piece of the estate planning puzzle. Working with an independent financial adviser (IFA) to write your Will can provide you with confidence that the decisions you are making take in to account your whole financial situation.
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