Estate Planning
For many approaching later life, concern over the impact inheritance tax may have on their relatives is a very real and important issue.
Estate planning provides a viable and sound way to prepare your finances to ensure that your assets are protected for your loved ones once you’re gone.
What is estate planning?
Estate planning involves considering what to do with a person’s money and assets after they are deceased. While talking about death is not a pleasant conversation, estate planning can give you peace of mind over what will happen to your assets and property after you pass away. Planning an estate is likely to be a time-consuming process and therefore it is worth making sure you have done all the research on what you need to do.
What are the benefits?
There are numerous reasons you should have an estate plan in place.
These include:
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Properly considering what is in your estate
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To protect your wealth for your loved ones after your death
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Looking at the impact of inheritance tax that you or your beneficiaries will pay
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Setting out your wishes as to what will happen to your estate
