Estate planning

At the end of the day, there is nothing more certain in life than death and taxes. Nobody likes discussing their own mortality but sooner or later it becomes a necessity if you, and your loved ones, are not to be penalised by paying more tax than is necessary. Also, few of us could live with the thought that we have not made adequate provision for family and friends who survive us.

The legislation that governs passing on your estate to your chosen beneficiaries requires you to plan well in advance. Since none of us knows when we shall die, this means making the necessary provisions now.

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.

We provide a discreet estate planning service that includes:

  • Help with drawing up and reviewing your will
  • Making full use of exemptions and lower tax rates on lifetime transfers
  • Optimising lifetime transfers between spouses
  • Transferring agricultural or business property
  • Advise on transferring assets into trust
  • Advice on arranging adequate life assurance to cover potential inheritance tax liabilities

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Kirkwall
Thurso