Estate Planning
Estate planning is about more than just writing a Will. It's about taking a clear, considered look at everything you own, and making sure it goes where you want it to go, protected from unnecessary costs and complications.
At Everlasting Legacy, we offer a range of estate planning services to help you build a comprehensive plan for your future and your family's security.
Inheritance Tax Planning
Inheritance Tax (IHT) is charged at 40% on the value of your estate above the current threshold (£325,000, or up to £500,000 if you're passing your home to direct descendants). With careful planning, there are entirely legal ways to reduce the amount your estate may owe.
We can help you understand your current IHT position and explore strategies such as:
Making use of gifting allowances
Structuring your Will to maximise available reliefs and exemptions
Charitable giving
Trust-based planning
We work with you to find an approach that suits your values and your family's needs.
Protecting Your Assets
For many of our clients, one of their biggest concerns is making sure the family home and other assets stay within the family, and don't get consumed by care fees or unforeseen circumstances.
We can discuss a range of strategies designed to protect what you've worked hard to build, including property trusts and structuring your Will to include protective provisions for a surviving spouse or partner.
Probate Advice
Probate is the legal process by which a deceased person's estate is administered and distributed. If you're dealing with the loss of a loved one, we can provide guidance on the probate process and point you in the right direction, helping to make a difficult time a little less overwhelming.
Care Fee Planning
If you or a loved one may need residential care in the future, it's worth understanding how care is funded and what, if anything, you can do to protect your assets. We can help you understand your options and direct you to the appropriate specialists where needed.
Trusts
Trusts are legal arrangements that allow you to set aside assets for specific people or purposes, often with significant advantages in terms of tax, protection, and control. Whether included in your Will or set up during your lifetime, a trust can be a powerful part of your estate plan.
We can advise on a range of trust structures including:
Discretionary Trusts
Life Interest Trusts
Property Protection Trusts
Vulnerable Persons Trust
Why A Comprehensive Estate Plan Matters
Many people assume that having a Will is enough. In many cases, it's a fantastic start. But a comprehensive estate plan looks at the full picture, your assets, your family circumstances, your tax position, and your long-term wishes, and puts in place a structure that truly protects them all.
Let's have a conversation about your situation and see what's right for you.
STILL NOT SURE?
Frequently Asked Questions
What is estate planning?
We recommend reviewing your Will after any major life event, marriage, divorce, a new child, a house purchase, or a significant change in your finances. In any case, reviewing it every three to five years is good practice.
Do I need estate planning if I already have a Will?
A Will is an important part of estate planning, but it is only one element. Estate planning can also involve trusts, inheritance tax considerations, and planning for later life care. Taking a wider view helps ensure your assets are protected and distributed in the most effective way.
When should I start estate planning?
It is never too early to start estate planning, particularly if you own property, have children, or want to protect assets for future generations. Putting plans in place early provides clarity and peace of mind, and they can always be reviewed and updated as your circumstances change.
Ready To Get Started?
Book your no-obligation consultation today. We'll discuss your circumstances, answer your questions, and explain exactly what we can do for you.