Estate planning and wealth management is all about making sure that the right people benefit from your estate, at the right time and in the most efficient way. This might be done with a view to minimising inheritance tax, protecting assets from others and to keep wealth within the family. Whilst wealth means different things to different people, most of us have worked hard for what we have and want to ensure that it goes to the chosen beneficiaries.

There are a number of tools that can be used to help in this, including wills, trusts and lifetime gifts.

Prior to and during the recent election campaign two issues that were discussed were of particular relevance to the services that we can provide. The issues being inheritance tax and care of the elderly, and how that care should be paid for.

The promised increase of the inheritance tax threshold to £1million has been shelved leaving many more estates subject to this tax. We can advise on minimising any potential tax bill, meaning that more of your estate ends up with your chosen beneficiaries.

The cost of funding care for the elderly is a concern for many people. Whilst most people do not go into care, it can be very expensive if you do. It is an area that we are often asked for advice on and are happy to do so.

The circumstances and lifestyles of the people we would most like to benefit from our estates sometimes means that giving to them sums of money or other assets outright would not be either sensible or to their advantage. The use of trusts in these circumstances can establish a fund to be used to provide for them but allowing the trustees to retain control of the assets.

The important thing is establish with you what your objectives really are and then we are able to advise on the appropriate course of action necessary to meet those objectives.

Please email Daniel Ager at dager@apblaw.co.uk or telephone 01206 768331 if you think we can assist.