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Some common Estate Planning mistakes.....most if not all can be corrected through proper planning before hand I hate to see people lose out on their family inheritance due to improper, incomplete or simply non-existent estate planning The truth is you decide how your assets are divided at your passing before hand, or the government will post death Even the simplest situations can benefit from some foresight and proper planning Send me a message if you have question on how to maximize your estate or inheritance #estates #financialplanning #tax #financialplanner #estateplanning https://lnkd.in/gCAsdXNj

An inheritance can be a financial blessing, but it comes with important considerations. Whether you’ve recently received a windfall or are planning for the future, here are key aspects to bear in mind: Understand the Probate Process Probate can be lengthy and complex. Knowing how it works ensures you’re prepared to navigate the legalities smoothly. Tax Implications Inheritance Tax or Capital Gains Tax may impact what you receive. Strategic planning can help reduce these burdens. Caring for Parents If you’re managing an inheritance while also supporting ageing parents, consider how their needs and long-term care costs factor into your financial decisions. Plan Ahead for Your Own Legacy Use this opportunity to reflect on your own estate planning. Creating or updating your will and trusts can ensure your wishes are honoured and your loved ones are protected. Looking for guidance? Let’s work together to manage your inheritance wisely and plan for the future. Get in touch. +44 (0) 2033 935 920 enquiries@headwaywealth.com #InheritancePlanning #ProbateProcess #TaxConsiderations #LegacyPlanning #FinancialAdvice #HeadwayWealth Capital at risk.

Some of us might hear the phrase ‘estate planning’ and think it’s only important for the likes of those living in Downton Abbey, but that’s just not true! Your estate includes your property, possessions, savings and any investments. So, if you want to ensure that the people you love receive this as inheritance when you are gone, it’s vital that you make estate planning a priority so that your will and any trusts are in place when needed. At AFPS we can help you to achieve your aims – book a free consultation to get the ball rolling. https://lnkd.in/dCtcbhqg #protectyourlegacy #familywealth #estateplanning #expertwilladvice

The Importance of Revocable Trusts in Estate Planning Revocable trusts are a powerful tool for anyone’s estate planning. Use them to protect your assets during your lifetime, manage taxes and streamline inheritance. [Blog Post] https://lnkd.in/gfGG58hv #lifeplanlegalaz #estateplanning #estateplanningattorney #queencreekaz #gilbertaz

What is a Trust? Key Benefits and Uses in Estate Planning Curious about trusts and their benefits? Aleksandra (Ola) Szymaniec, a Solicitor in our Private Client team, breaks down the essentials of trusts and also highlights the impact of changing tax laws on trust usage, noting that while trusts were historically used to reduce inheritance tax, regulations since 2006 have altered their tax benefits. By understanding the role and benefits of trusts, individuals can make informed decisions about estate planning and asset management. Read Ola's article to find out more - https://lnkd.in/eUU_wkR4

🌸 Navigating Inheritance: Judy’s Journey 🌸 Join Judy as she navigates the emotional and financial challenges of inheriting her mother’s estate. Learn about estate planning, tax implications, and how to make the most of your inheritance. 💼🏡 #Inheritance #EstatePlanning #FinancialPlanning #Grief #PersonalFinance

🏡 Plan for the Future: The Importance of Estate Planning in the UK ⚖️ Estate planning isn’t just for the wealthy—it’s for anyone who wants to ensure their assets are distributed according to their wishes, and their loved ones are taken care of. In the UK, having a solid estate plan helps minimise inheritance tax and ensures your beneficiaries are protected, giving you peace of mind. At Advisor Link, we work with trusted professionals who can guide you through the key elements of estate planning, including: • Writing or updating your Will. • Setting up Trusts to protect assets. • Minimising Inheritance Tax liabilities. • Appointing Powers of Attorney for health and financial decisions. 📝 Don’t wait until it’s too late. If you’re unsure where to start, we’re offering complimentary financial reviews to assess your current situation and connect you with the right estate planning solutions. Take control of your legacy! info@advisor-link.co.uk https://lnkd.in/eXKa3CZw #EstatePlanning #WealthManagement #InheritanceTax #UKTax #AdvisorLink #FinancialSecurity #ComplimentaryReview

Your will is the foundation of your estate plan. Yet more than 50% of adults in the UK still don’t have one. It’s one of the simplest yet most important steps to protect your legacy. Recent inheritance tax changes make it even more essential to get organised now to potentially save your family significant stress — and expense. Working together with protection specialists, planning your will is far quicker and easier than you think. At secure, we have a dedicated Will's team that work to simplify the planning process and provide clarity to all parties involved. As ever, plan today for a smoother tomorrow: https://lnkd.in/gWdubWYf . . . #willplanning #estateplanning #inheritancetax #financialadvice #secure #protectionplanning #estates #legacyplanning

💡 Fact of the day: four is the only number that has the same amount of letters as the number itself. This leads us quite nicely into part four of Inheritance Tax myths I’m debunking... 👇 4. You don’t need to consider Inheritance Tax if you leave everything to your partner Yes, you can leave assets to a spouse or civil partner without it being liable for IHT, but that isn’t a reason for you to skip your estate planning. Why? Well, you can’t just assume your partner is going to inherit all your assets unless you’ve actually stated it in your will. It isn’t just a given when you pass away… If you pass away without a will in place, your assets will be distributed under intestacy rules (I’ve shared a link in the comments for you to look into this more!) but essentially, a spouse or civil partner will inherit everything if the value of your estate is less than £322,000. Anything exceeding this amount could go to your children or direct descendants. Ask yourself these questions: 👉 What will happen if I pass away before my partner? 👉 Could my partner be liable for IHT after they’ve received my assets? Having an estate plan in place just makes sense! 👍 Next week, let’s talk about gifting 🎁

If you’ve ever wanted to learn about trusts or wanted to explain them to someone, check out my newest article.