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Passing on your assets

A vital step in financial planning is estate planning, which is designed to help ensure your wealth is preserved following your death and any taxes due are minimised, allowing you to pass on any accumulated wealth to other generations.  

Creating an estate plan is a team based activity which includes a lawyer, accountant and financial adviser. At Absolute Wealth Management, we can define your overall needs and co-ordinate with specialists needed to help realise the plan. As your financial adviser, we have a complete overview of your personal and financial situation and can share this information with the necessary professionals, reducing any unnecessary costs.

MINIMISING Inheritance Tax 

As Inheritance Tax rates and rules are subject to change, our advisers can help ensure that you are using your maximum allowances. We can also provide current information on how to set up trusts, including family trusts, which are designed to preserve wealth and avoid unnecessary legal and fiscal complications, at the same time avoiding family disputes.

If you have concerns with Inheritance Tax, we will work with you to provide the appropriate solution for you and your family. We appreciate this can be a sensitive area, so we will use our experience to help ease any concerns or questions your family members may have. 

It is important to note that The Financial Conduct Authority does not regulate some aspects of auto-enrolment, tax advice, wills or trusts.

Inheritance tax

Under current regulations Inheritance Tax is levied upon a person's death if their estate, which includes their property, along with their savings and possessions, is worth more than £325,000. We can help you mitigate your tax liabilities through prudential planning.

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Trusts

Establishing trusts are an efficient way of making future provisions for your family. You could for example set up individual trusts for your own children, plus grandchildren. Any money placed within a trust falls outside your estate, so is therefore not liable for Inheritance Tax. 

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Making a will

Having a current and valid will is an important part of estate planning since it allows you to decide how your money, property and possessions are divided upon your death. With the help of a solicitor we can ensure your estate is passed on in the most tax-efficent manner.

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IF YOU WOULD LIKE FINANCIAL CLARITY TODAY TO LIVE THE LIFE YOU WANT TOMORROW PLEASE GET IN TOUCH. 

Arrange a free initial no obligation consultation

Or call on 0117 907 1965

 

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41 North View,

Westbury Park,

Bristol BS6 7PY

0117 907 1965

info@absolutewm.co.uk