Estate Planning & Trusts​

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Inheritance Tax (IHT) is one of the biggest taxes for many people, and one which is viewed by many as being a double-tax, and unjust. Having worked hard to accumulate wealth, many people are concerned that IHT should be minimised on their death. Through careful financial planning, there are a number of measures which can be taken to achieve this objective, often in conjunction with each other. These include:

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• Discretionary Trusts

• Discounted Gift Trusts

• Loan Trusts

• Gifting (PETs)

• Whole of Life Assurance

• Enterprise Initiative Schemes

• A.I.M Portfolios

• Other Specialist Investments
   

IHT is a relatively ‘discretionary’ tax, in that it is often possible to make substantial savings in IHT with little or no impact on the financial security of the client. However, it is important to address the subject of IHT early, as many of the methods which can be used to mitigate this tax require a period of several years to become effective.

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In addition to mitigating tax, the other main objective for estate planning is control of how and when your assets can be distributed to your beneficiaries after death. This is where trusts can be particularly valuable.

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The advisers at E L Watson Financial Planning have a wealth of experience in dealing with Estate Planning. Please feel free to contact us for further details.