Passing on your wealth

Few of us like to think about passing on assets which we have worked hard for, but equally few of us could live with the thought that we have not made adequate provision for family and friends who survive us, and for any unnecessary inheritance tax falling due.

It is essential, with the legislation that governs passing on your estate to your chosen beneficiaries, that you plan well in advance.

The earlier you make the arrangements, the greater your chance of taking full advantage of the tax opportunities available and thereby maximising the amount that goes to your beneficiaries. Nothing is more demoralising than the thought that a substantial slice of the wealth you have worked hard to accumulate will end up in the Government's coffers!

It is equally important when planning to transfer your estate that you make adequate provision for yourself and your spouse in your later years. Striking this balance calls for considerable skill and foresight - and a detailed knowledge of the tax regime. There are many personal factors that also determine this.

At Greenwoods we provide the following services:

• making full use of exemptions and lower tax rates on lifetime transfers
• optimising lifetime transfers between spouses
• transferring agricultural or business property
• transferring assets into trust

Please use the estate calculator on our website to help you value your estate.  

We advise you to begin your estate planning right away by contacting us for a preliminary chat.