Help ensure your personal possessions are passed on to the people you care about. With careful planning and expert advice, you could also reduce or eliminate potential inheritance tax liability. Estate planning is to make sure that upon your death your wishes are followed minimising the amount of taxes due on your estate.
Putting your savings, investments, life policies or assets into a Trust* can play an important part in estate planning. A Trust* is a legal entity that has control over assets for the benefit of one or more people and there are different types of Trust* which can be set up according to what you intend to achieve. When you set up a Trust* you will choose one or more trustees to be responsible for the assets. You will also choose one or more beneficiaries who will receive the assets at a time specified by you. Setting up a Trust* can ensure that, for example, your estate is passed to the right people at the right time, and may be able to reduce inheritance tax liability.
McGrady Financial Services Ltd have various Trusts* to support different planning needs. Estate planning is an ongoing process and should be started as soon as one has any measurable asset base. As life progresses and goals shift, the estate plan should move to be in line with new goals.
Setting up a Trust* can ensure that, for example, your estate is passed to the right people at the right time, and may be able to reduce inheritance tax liability.
As Financial Advisers McGrady Financial Services can offer guidance on making your savings and investments tax-efficient and help plan for your loved ones’ future.
The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.
Equities do not provide the security of capital associated with a deposit account with a bank or building society.
The levels are bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.
* Trusts are not regulated by the Financial Conduct Authority.