Estate planning

By: Lithgow Perkins LLP  06/06/2011
Keywords: estate planning

 

There are many aspects to implementing a personal tax planning strategy and we discuss these in our pages but some simple estate planning can save considerable amounts of tax and it does not have to be extremely complex or expensive.

Few of us like to think about dying, but equally few of us could live with the thought that we had not made adequate provision for family and friends who survive us.

The legislation that governs passing on your estate to your chosen beneficiaries requires you to plan well in advance. Since none of us knows when we shall die, this means making the necessary provisions now.

The earlier you make the arrangements, the greater your chance of taking full advantage of tax opportunities available and thereby maximising the amount that goes to your beneficiaries. Nothing is more demoralising than the thought that a substantial slice of the wealth you have worked hard to accumulate will end up in the Government’s coffers!

It is equally important when planning to transfer your estate that you make adequate provision for yourself and your spouse in your later years. Striking this balance calls for considerable skill and foresight – and a detailed knowledge of the tax regime.

If you would like to discuss any of the above, please call Robert Horner on 01423 564446 or email him with your queries at

Keywords: estate planning

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