ESTATE PLANNING

We understand that you have worked hard throughout your whole life to accumulate your wealth.

Estate planning involves planning how to pass on your assets to the next generation in the most tax-efficient manner,: it also ensures your wishes are respected and provides peace of mind.

INHERITANCE TAX IS CHARGED AT 40% ON THE VALUE OF THE DECEASED ESTATE ABOVE £325,000.

Acting early and with the right planning and advice can mean more of your money going to your beneficiaries and less to the taxman. There are many ways to manage, reduce or eliminate an Inheritance Tax bill.

MAKING A WILL

If you die without making a will, known as intestacy, you could leave your heirs with a major headache trying to sort out your estate: writing a will is not always about money and assets, it can also be used to help reduce an Inheritance Tax bill. It also provides peace of mind that your affairs are in order and your assets will be passed to the people you choose.

LASTING POWERS OF ATTORNEY

A Lasting Power of Attorney (LPA) is a document which legally enables one or more individuals you know and trust, your Attorneys, to have the power to make decisions on your behalf if you lose mental capacity.

Unlike a will, which deals with your estate when you are no longer here, an LPA deals with your financial and care decisions while you are alive but lack capacity.

There are two types of LPA: a Property and Financial LPA and a Health and Welfare LPA.

WE HAVE CONNECTIONS ...

Tallow Financial Planning does not arrange wills or Lasting Power of Attorney; however, we work with other professional connections to supply this service. This ensures that there are no gaps in your financial plan and you have all the bases covered.