Estate planning – WHIreland

Estate planning

How do I continue to provide for my family when I am gone?

Over the coming years, more and more wealth will be transferred from one generation to the next although many families fail to discuss how and when this may happen. There are many complexities around this area, such as timing, the amount or the tax and legal implications, which is perhaps one of the reasons why many shy away from making such decisions.

Without careful planning, HM Revenue and Customs could be the main beneficiary of your estate after you have gone and rising property prices has meant that over the past few years, many more individuals have been subject to Inheritance Tax (IHT). Tax is one of the biggest concerns when transferring wealth to the next generation. Many are not aware of the main taxes, the reliefs and solutions available to assist in this process. Protecting and preserving your wealth is at the core of what we do; we will provide suitable recommendations that will assist you in meeting your financial goals and ambitions.

Investment wrappers such as ISAs are designed to protect your investments from Capital Gains Tax (CGT). Where appropriate, we will also recommend establishing other types of investment wrappers such as pensions, offshore bonds and trust accounts to ensure you are capitalising on the available allowances. Sometimes, using a combination of different wrappers may be the best solution which offers flexibility to react to changing legislation and circumstances. At other times, keeping matters simple may be appropriate. This will depend on your personal situation and your financial ambitions and goals.

Inheritance Tax and protecting your assets

We also offer an Inheritance Tax Portfolio service which can help you pass on more of your wealth by investing in Business Relief qualifying companies quoted on the Alternative Investment Market (AIM). Business Relief qualifying assets that are held for a minimum of two years are exempt from Inheritance Tax (if still held upon death).

Contact us to find out how we can help

Find your local WHIreland office

We can advise you on a range of wealth management and investment services. With a regional presence across the UK, learn more at an office near you.

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To find out more call us on 0800 877 8866