Estate Planning – Devon Financial Advisers

Estate Planning Advice

You’ve worked hard for your wealth so of course you want to ensure that it’s protected for your family’s future. Whether it’s funeral expenses, care home fees or inheritance tax you’re concerned about, we can advise you in all areas of your estate planning and ensure your family’s needs are secured. Town & Country Financial Advisers have the knowledge and expertise to help assess how we can minimise your tax liability and maximise what you leave your loved ones.

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What is Estate Planning?

Estate Planning is the process of anticipating and arranging for the disposal of an estate during a persons life. Estate Planning typically attempts to eliminate uncertainties over the administration of a probate and maximise the value of the estate by reducing taxes and other expenses

What is Inheritance Tax?

Inheritance Tax is a tax which can arise where a beneficiary receives an inheritance as a result of someone dying which exceeds the government allowance. The beneficiary is responsible for paying the tax.

When you die the government will assess how much your estate is worth, they will deduct any debts from this to give you the value of the estate. Assets Include:

Cash in the Bank
Investments
Property & Businesses Owned
Vehicles
Pay Outs from Life Insurance Policies

Elements of an Estate Plan

A Will – Allows you to specify your wishes and distribute your property and also states who will care for your children.
A Trust – Holds all your assets for the benefit of one or more people.
Life Insurance – Proceeds are paid to a beneficiary at your death
Gifts – A way to transfer property to your family, friends or charity.
Tax Exclusions – These are available as important tax planning tools.

Get in Touch With Our Team

It’s never too early to start thinking about planning your estate and while an estate plan can’t pass on your memories and experiences it can help to pass on your assets. Contrary to what many people think, you don’t need to be a millionaire to have an estate plan. Town & Country Financial Advisers can help guide you through the estate investment planning process and work closely with you and your tax and legal advisers to ensure you and your family’s needs are secured.

Tax treatment varies according to individual circumstance and is subject to change.