Advising how to pass your wealth to future generations
Inheritance Planning
When making plans, Inheritance Tax is not the only consideration, we advise and guide our clients to review their Wills and to create Lasting Powers of Attorney.
Saving tax should not be the only motivation.
Guiding You Through the Wealth Transfer Process
- You retain sufficient capital for your own financial security.
- Your lifestyle is maintained throughout your retirement.
- You pass on wealth without compromising your children’s motivation to save and achieve financial independence.
The Steps We’ll Take Together
Estate planning is a detailed and strategic process that ensures your assets are preserved, managed, and distributed according to your wishes after your death. It’s not just about preparing for what happens when you pass away, it also includes important provisions for the management of your property and finances in the event that you become incapacitated and unable to make decisions for yourself.
The first and most fundamental step in estate planning is creating a will. A will outlines how your assets should be distributed and ensures that your estate is managed according to your preferences. Despite its importance, approximately 60% of people in the UK do not have an up-to-date will, which can cause unnecessary confusion and complications for loved ones when the time comes. Without a valid will, your estate may be distributed according to the government’s default rules, which may not reflect your intentions
Understanding Lasting Power of Attorney
A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint someone to act on your behalf if you are unable to do so. There are two types of LPAs:
- Health and Welfare: This covers decisions related to your health and personal care.
- Property and Financial Affairs: This manages your financial matters and assets.
Both documents need to be registered with the Office of the Public Guardian and must be certified by a professional or someone able to attest to the document’s authenticity, similar to how a passport is verified.
We’ll work with you to ensure your estate is organised in line with your wishes, providing peace of mind that your wealth will be effectively managed and passed on as you intend.
The Financial Conduct Authority does not regulate Estate Planning.
Want to know more?
Abacus Money Management Ltd
Office Hours
Mon to Fri: 9am to 5pm
Location
14 Miller Court, Severn Drive, Tewkesbury, GL20 8DN
Contact
01684 778360 info@abacusmml.co.uk
Abacus Money Management Ltd is authorised and regulated by the Financial Conduct Authority under registration number 610239
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
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Abacus Money Management Ltd is a Private Limited Company registered in the UK, Company Number 06755206