A carefully drafted will is the cornerstone of your Wealth Succession Plan. Remi can advise you on the best way to tailor your will so that you can leave a lasting legacy. You want to make sure your will includes wealth protection strategies to protect your wealth, protect your beneficiaries and save inheritance tax.
Lasting Powers of Attorney
Lasting powers of attorney (LPAs) are used to give someone or more than one person the legal authority to make decisions on your behalf. What makes them different from ordinary powers of attorney is that they can be used even after you have lost mental capacity. LPAs are an essential part of your estate or wealth planning and should be part of your toolkit for protecting your wealth.
Family trusts are important for protecting family assets and heirlooms and is crucial to creating intergenerational wealth. If you really want to protect your wealth you should consider setting up a family trust, whether as part of your Wealth Succession Plan or on a standalone basis. There are many benefits to a family trust but the most important one is that it allows you to control how you pass on your wealth to your family and allows you to create a tailor-made solution for your own family.
Inheritance Tax Advice
Inheritance tax is charged in the UK at the rate of 40% on the part of your estate that is over the inheritance tax threshold. Although the threshold is increased from time to time, due to the rise in property prices over the years, more people are caught in the inheritance tax net than ever before. Recent changes have meant that fewer people will be caught in the net. Seek professional advice regarding your estate, as there are some things you can do to mitigate the effect of the inheritance tax charge.
If you have any other family wealth issue not mentioned then you can book a FREE 30-minute consultation with Remi Aiyela so that she can understand exactly what you are trying to achieve? By booking your consultation now, you can start taking the first steps towards resolving your family wealth issue. Remi is ready to share lots of information during the consultation to help you get started on the right path.
There’s absolutely nothing to lose and everything to gain. Use the button below to book your no-obligation free consultation.