News & Resources

Wealth preservation

Reducing Inheritance Tax means taking action now

Without professional advice and careful financial planning, HM Revenue & Customs (HMRC) can become the single largest beneficiary of your estate following your death.

A recent survey about Inheritance Tax (IHT)[1] shows that wealthy Britons over the age of 45 are either ignoring estate planning solutions or they have forgotten about the benefits these can provide. Only 27% of those surveyed have taken financial advice on IHT planning, despite all of them having … Read the rest

Family Succession planning

 

Taking advice early and developing a personal financial plan is crucial to meeting long-term goals

Succession planning may be one of the most challenging experiences facing any leader, especially an entrepreneurial business person who has built a family business from scratch, so it is crucial to get right. For a family business, transition is a once-in-a-lifetime decision. Perhaps no challenge has as much potential to exacerbate the special stresses – or, conversely, highlight the special advantages – of operating
Read the rest

Inheritance Tax rule changes

Effective estate planning can safeguard your wealth for future generations

If you want to have control over what happens to your assets after your death, effective estate planning is essential. After a lifetime of hard work, you want to make sure you protect as much of your wealth as possible and pass it on to the right people. However, this does not happen automatically. If you do not plan for what happens to your assets when you die, more of
Read the rest

Passing on wealth without further tax charges

 

Over-55s risk falling prey to the inheritance ‘sibling tax trap’

On 6 April 2017, a new additional main residence nil-rate band (RNRB) was introduced, which allows for less Inheritance Tax to be paid in situations when a family home is left to children, grandchildren or certain other ‘qualifying beneficiaries’ – including stepchildren and foster children.

But more than 1.7 million over-55s[1] could miss out because they’ve assigned their sibling to inherit their family home and not a direct descendant.… Read the rest

Financial futures

Building a nest egg for when children need it

The prospect of a child leaving home is scary enough for parents – and then there’s money to think about. Even if they get a student loan or find work, how will they be able to afford their first car or home? Parents and family often do what they can to help give children a financial leg-up, with many choosing to set aside money for their future during their childhood.

When … Read the rest

One of life’s unpleasant facts

Protecting your assets to give your family lasting benefits in an uncertain world

Inheritance Tax (IHT) in the UK is a subject that was once something that only affected very wealthy people. It may be one of life’s unpleasant facts but today it affects more people than ever, partly due to the rise in the property market that has not been matched by a corresponding rise in the IHT threshold.

Taxing times
The threshold is currently just £325,000 – any … Read the rest

New Intestacy Rules aim to make things simpler and clearer

www.esmartproducts.co.uk-i

Why the consequences could be far-reaching for you and your loved ones

Significant changes to existing intestacy rules came into force on 1 October 2014 in England and Wales, with the aim of making things simpler and clearer. The consequences could be far-reaching for you and your loved ones, and while there are increasing entitlements for surviving spouses and registered civil partners, the changes highlight the importance of making a Will to ensure your wishes are carried out.

Radical Rule

Read the rest

Taxman waits at Pearly Gates

A little internet research suggests that death duties first came to the UK in 1796, some years after US founding father Benjamin Franklin first talked about death and taxes being the only two certainties we all face. Those death duties brought an even stronger link between the two dreads in Franklin's words; and what we now call Inheritance Tax (IHT) still combines a loved-one's departure with a potentially large tax bill payable from the deceased's estate before probate can be granted and distributions made to beneficiaries.

Your Will – Why it pays to plan for the future…

Guest legal blogger Gareth from Silverman Sherliker LLP has kindly written this piece on why it pays to have a decent Will in place.

Your Business and your Will

Making the time to invest in advice from a Will Writing specialist is a really good idea, whatever the size of your business. Find out why.