Financial advice from the best Financial Advisors in Cumbria

Planning for the orderly handling of your estate upon your death can be a stressful time. We aim to help relieve some of the stresses by ensuring that you are fully prepared by having the correct planning in place to minimise tax liabilities and to ensure that your assests pass onto the preferred beneficiaries.

We will offer you guidance and help where needed most so why not get started by reading our top Will writing tips HERE.

Estate planning is very important as it aims to preserve the maximum amount of wealth possible for your intended beneficiaries, whilst providing flexibility for the individual prior to death. The rules in the UK are strict. Currently, if there is no Will, unmarried partners (excluding civil partnerships) are not recognised regardless of how long the relationship has been going on. Even if you are married or in a civil partnership, there can be limits to the amount you will receive if your other half dies intestate (without a Will).

A major concern for individuals when outlining their estate plan is inheritance tax. Contact us today by clicking HERE for independent advice and to ensure that your estate is organised in the best possible manner to minimise potential Inheritance Tax liabilities.

Not everyone pays Inheritance Tax on death. It only applies if the taxable value of your estate is above £325,000 (2009-2010 tax year). It is only payable on the excess above this threshold. If however, you leave your estate to your spouse or civil partner, it is automatically exempt from IHT, regardless of its value. If you were to leave £325,000 worth of inheritance to your spouse or civil partner, you may be able to avoid IHT altogether.