Simply put, a last Will and testament (which is a legally binding document) is needed to ensure that after your death, specific assets, money and possessions go to the particular people and/or organisations you choose. These will include children and other family or friends you want to support and and any charitable donations you [...]
Intergenerational wealth transfer is essentially about transferring wealth from one generation to the next. This can be done through a variety of means, including inheritance, gifting money or property, trusts and investing in life insurance, each with their advantages and disadvantages. National statistics show that the net worth of the population is rising and [...]
In this podcast episode, I discuss how effective estate preservation planning could save a family a potential inheritance tax bill amounting to hundreds of thousands of pounds. Key Takeaways Inheritance Tax was introduced in 1986 replacing the old Capital Transfer Tax which itself replaced Estate Duty. [...]
In this podcast episode, I talk about how to make suitable plans to keep wealth within your own family following your departure. Inheritance tax can cost families thousands of pounds but there are ways to legally avoid paying this tax. Key Takeaways Without making suitable plans your loved [...]
Wealth management vs asset management - two different concepts when it comes to managing client's money. It is important to understand the key differences between the two so that you can make the best decision for your financial circumstances and future. Ultimately, a good financial advisor should be able to help you with both [...]
This short video takes a look at insurance for inheritance tax liability called a Life Assurance Policy using trusts, as well as the impact a charitable donation can have on the amount payable by the beneficiaries. A video transcript is provided further below, if you would prefer to read about it. [...]
This short video takes a look at pensions and inheritance tax planning, an important aspect of Estate Management and Planning. The right type of pension, set up correctly, can be a tax efficient way to pass on your wealth. A video transcript is provided further below, if you would prefer to read about it. [...]
Are you aware of and therefore using all of your possible IHT exemptions? This video introduces a couple of the standard allowances available. A video transcript is provided further below, if you would prefer to read about it. IHT Exemptions - Video Transcript The tax [...]
Using a Lifetime Gifting exemption is one way to help reduce inheritance tax, but it is not always as straight forward as it may seem. I am often asked 'Who pays inheritance tax on gifts?' or What is the inheritance tax 7 year rule?' This short video explains further. A video transcript is provided [...]
Inheritance Tax Allowances have been frozen until 2026. This short video takes a look at the impact this Government decision could have when it comes to estate planning and inheritance tax liability. A video transcript is provided further below, if you would prefer to read about it. [...]