Estate Planning

Surprisingly some people believe that by arranging a Will they will somehow hasten their death. However, there is plenty of evidence that not arranging a Will could mean the deceased person's assets are passed to the 'wrong' people. Alternatively and in addition the value of their estates could become subject to unnecessary Inheritance Tax.

The Financial Conduct Authority does not regulate will writing and taxation and trust advice.
Bateman Financial Management do not undertake Will writing but are able to make introductions to professionals in this field.

Key Points

It is important to make a Will because:-

1. If you die without a Will, there are certain rules which dictate how the money, property or possessions should be allocated. This may not be the way that you would have wished your money and possessions to be distributed.

2. Unmarried partners and partners who have not registered a civil partnership cannot inherit from each other unless there is a Will, so the death of one partner may create serious financial problems for the remaining partner.

3. If you have children, you should make a Will so that arrangements for the children can be made if either one or both parents die.

Inheritance Tax Planning

Inheritance Tax (IHT) is sometimes referred to as the "death tax" and is paid by the beneficiaries of an individual's estate that exceeds the nil rate band in the year in which they die.

There are many ways to mitigate this tax, such as the use of trusts. We are able to provide you with suitable advice to address this issue as well as introduce you to various professionals who specialise in this area.