Estate Planning is an important and valuable tool in the creation of a will. It allows the testator control of how their wealth is passed to the next generation. Planning how you wish to dispose of your Estate is essential in avoiding ambiguities during the probate process and reducing taxes and related expenses.
We ensure our duty of care to the testator and their beneficiaries is fulfilled by adhering to the following general principles:
1. Ensuring any arrangements made are acceptable to the client/ testator
2. Allow for future development:
- In particular allow for future legislation
- As well as personal, financial or family circumstances
3. Considering tax implications:
- Making the most efficient use of the testators Nil Rate Band (NRB)
- Preserve and maximise Business Property Relief (BPR) and Agricultural Property Relief (APR)
- Making full use of annual and small gift exemptions
- Exploring trusts
4. We make sure we are fully aware of our client’s (testator’s) overall position i.e. personal, health, financial and family circumstances etc.
5. Above all we aim to make the process as simple and stress free for our client as possible