Wills and Trusts
A professionally drafted Will ensures that your affairs will be dealt with by someone you trust and your wishes fully met. It should also be the cornerstone of your Inheritance Tax Planning.
We can ensure you have the right Will in place.
By making your Will, you know that you’ve done the best for the ones you love and care for, having protected them from unnecessary additional stress at what will be a very difficult time for them. If you have already made a Will, then you can rest easy in the knowledge that your personal affairs are in order – unlike two thirds of the UK adult population who have yet to take this important step. Of course even if you have made aWill, it is vital to ensure that it still meets your requirements.
Without a Will, the law alone dictates how your estate is divided and distributed. In some circumstances, this could mean that your estate does not automatically pass to your spouse, your exact wishes may not be met and you could be creating a tax burden on your family. Not only does a Will allow you to choose who benefits but, importantly, it also allows you to choose the Guardians of your children rather than leaving the court to make this crucial choice.
A Tax Efficient Will
Many families are liable to Inheritance Tax on their estates. Increases in the value of property and the reluctance of successive Chancellors to increase the Nil Rate Band in line with property prices means that more and more ordinary families face the prospect of paying large amounts of their estate to the Exchequer.
By making a Tax Efficient Will, you may reduce or even eliminate the Inheritance Tax liability on your estate. Without doing so, your family could end up paying over £100,000 to the Inland Revenue quite unnecessarily.
Many existing Wills are completely ineffective when it comes to reducing your Inheritance Tax liability, but an expertly drafted Will can help to address this problem. We will help you to make sure you have the right Will so you can leave more of your estate to your family rather than for the benefit of the taxman.
Why choose Regency Financial Consultancy to write your Will?
We are Independent Financial Advisers who employ specialist will writers. This means that we can give you exactly the right advice with regard not only to creating the right will for you but also to reducing or eliminating potential inheritance tax bills.
Without a Will……
If you die without a valid Will, your dependants could suffer hardship and distress
The law will make your Will for you and your immediate family may not automatically inherit all of your estate.
Your children could be made wards of court whilst the court decides who should act as their guardian.
Your assets may be frozen for a long period of time, causing acute and unnecessary hardship to your family.
Unnecessary legal fees may be incurred to settle your estate.
Virtually all of your estate could be used to pay for long-term care costs. Your children may inherit little or nothing!
If your spouse remarries and does not make a new and appropriate Will, then the new spouse will benefit instead of your children.
Couples living together may find their partner’s estate is lost to them.
