Effective estate planning ensures that your assets are distributed according to your wishes and can help minimise inheritance tax liabilities. At 1st Financial Foundations, our services include advice on wills, trusts, and inheritance tax planning. We help you create a comprehensive estate plan that protects your legacy and provides for your loved ones.
Understanding Estate Planning
A will is a legal document that outlines how you want your assets to be distributed after your death. Our advisers help you draft a clear and comprehensive will that reflects your wishes and ensures that your estate is managed according to your intentions. We also provide guidance on selecting executors and guardians to ensure your loved ones are taken care of.
Trusts are legal arrangements that allow you to transfer assets to beneficiaries while providing certain protections and tax advantages. Our advisers help you understand the different types of trusts, including revocable trusts, irrevocable trusts, and discretionary trusts. We recommend suitable trusts based on your goals and help you set them up to ensure your assets are managed and distributed according to your wishes.
Inheritance tax can significantly impact the value of your estate. Our advisers provide expert guidance on strategies to minimise your inheritance tax liability.
This includes advice on gifting, trust structures, and the use of tax-efficient investment vehicles.
We help you develop a comprehensive plan to protect your assets and ensure that your beneficiaries receive the maximum benefit from your estate.
If you have specific wishes for your estate, such as providing for family members or supporting charitable causes, we can help you set up family and charitable trusts.
These trusts allow you to specify how your assets should be used and provide certain tax advantages.
Our advisers help you structure these trusts to ensure your wishes are carried out and your legacy is preserved.
If you own a business, planning for its succession is essential. Our advisers provide guidance on business succession planning to ensure a smooth transition of ownership and management. This includes advice on transferring ownership to family members, selling the business, or setting up trusts to manage the business after your death. We help you develop a plan that protects your business and ensures its continued success.
Ongoing Review and Support
Estate planning is an ongoing process. Our advisers provide continuous support to ensure your estate plan remains aligned with your wishes and adapts to any changes in your circumstances or goals. We regularly review your plan and make adjustments as needed to accommodate changes in tax laws, family dynamics, or financial situations. Our commitment is to help you protect your legacy and provide for your loved ones.
