Estate Planning

Managing your financial affairs perhaps becomes most important as you start to think about passing on your wealth to your loved ones.

 

At Fairstone we understand that you have worked hard to manage your finances efficiently and want to pass on the maximum benefit to your family, however, it is important to remember that this won’t happen automatically.

If you do not plan for what happens to your assets after you die, you cannot be guaranteed that your wishes will be carried out. Poor planning can also lead to significant inheritance tax (IHT) implications for those you leave behind.

Whether you’re looking to create or update your will, set up trusts or develop a family office we can help make sure that you have the most tax efficient structure in place to meet your unique needs and to help you create a legacy for future generations.

Wills and lasting powers of attorney are the foundation of all estate planning solutions.

Nearly all of us at some point have probably thought about making a will, yet only 30% of the population have done so, presuming that this is something they can do as they get older.

To ensure that your wishes are carried about after your death it is imperative that you have a Will in place that outlines how you would like your estate to be distributed.

Our network of trusted financial advisers can help you to create your will and secure your wishes. Find a Fairstone adviser in your area today.

Trusts can be an essential part of estate planning as setting up a trust can help ensure that your estate is passed to the right people, at the right time.

Perhaps most importantly trusts can also help to reduce inheritance tax liabilities.

There are many different types of trusts available although they are commonly used to secure funds for children until they come of age and to protect your home and those that live in it after you’ve gone.

Trusts are flexible and can be used to protect any of your assets, what makes them attractive is the control they offer you in managing what happens to your assets after your death.

The law and tax implications surrounding trusts is constantly changing and your Fairstone adviser can help you understand the best trust option for you and your family. We will also help your trustees, explaining their roles and responsibilities in passing on your assets.

Whether you’re looking to set up new trusts or you’d like help reviewing your current arrangements our experienced team of financial planners can help. Find a Fairstone adviser in your area today.

If you own more than £325,000 of assets, HMRC will charge a tax up to 40% on all that you own over this amount when you die.

It will be the responsibility of your beneficiaries to pay this tax.

Inheritance tax could have a significant impact on the legacy you leave children, grandchildren or wider family; however, there are ways to reduce the amount of inheritance tax you have to pay on the funds you have earned and saved over the years.

One of the easiest ways to control what happens to your estate and the associated IHT is to write a will. If you die without a will, your estate is divided out according to a pre-set formula and you have no say over who gets what and how much tax is payable.

We can help you to manage the amount of IHT your loved ones will face. Our experienced financial advisers will work with you to find the best options for you and your family.

Wills

Wills and lasting powers of attorney are the foundation of all estate planning solutions.

Nearly all of us at some point have probably thought about making a will, yet only 30% of the population have done so, presuming that this is something they can do as they get older.

To ensure that your wishes are carried about after your death it is imperative that you have a Will in place that outlines how you would like your estate to be distributed.

Our network of trusted financial advisers can help you to create your will and secure your wishes. Find a Fairstone adviser in your area today.

Trusts

Trusts can be an essential part of estate planning as setting up a trust can help ensure that your estate is passed to the right people, at the right time.

Perhaps most importantly trusts can also help to reduce inheritance tax liabilities.

There are many different types of trusts available although they are commonly used to secure funds for children until they come of age and to protect your home and those that live in it after you’ve gone.

Trusts are flexible and can be used to protect any of your assets, what makes them attractive is the control they offer you in managing what happens to your assets after your death.

The law and tax implications surrounding trusts is constantly changing and your Fairstone adviser can help you understand the best trust option for you and your family. We will also help your trustees, explaining their roles and responsibilities in passing on your assets.

Whether you’re looking to set up new trusts or you’d like help reviewing your current arrangements our experienced team of financial planners can help. Find a Fairstone adviser in your area today.

Inheritance tax (IHT)

If you own more than £325,000 of assets, HMRC will charge a tax up to 40% on all that you own over this amount when you die.

It will be the responsibility of your beneficiaries to pay this tax.

Inheritance tax could have a significant impact on the legacy you leave children, grandchildren or wider family; however, there are ways to reduce the amount of inheritance tax you have to pay on the funds you have earned and saved over the years.

One of the easiest ways to control what happens to your estate and the associated IHT is to write a will. If you die without a will, your estate is divided out according to a pre-set formula and you have no say over who gets what and how much tax is payable.

We can help you to manage the amount of IHT your loved ones will face. Our experienced financial advisers will work with you to find the best options for you and your family.