Estate planning
Designing the legacy you want to leave for your loved ones
Developing a lifelong financial plan, that enables you to live the life you want, is a rewarding and exciting experience. After all, what’s the use of working hard if you can’t enjoy the fruits of your labour? But if you want to make sure your loved ones continue to enjoy the benefits of your carefully-made plans when you’re no longer around, you can’t ignore the importance of estate planning.
Estate planning is the process of making a plan, during your lifetime, to manage and distribute your estate (your possessions, home, money etc.) after your death. Importantly, it provides clarity around your future wishes while you’re still around, reducing the chance of any arguments or legal issues when you die. A sound plan can also help minimise the amount of unnecessary Inheritance Tax (IHT) your beneficiaries might have to pay on your estate.
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Getting started with estate planning
The best place to begin is writing a will. This provides detailed instructions on who should inherit your estate, when, how, and in what proportion. You should also consider setting up a Power of Attorney, which effectively puts trusted guardians in place if you become unable to manage your own affairs during your lifetime.
A loved one’s death causes grief and distress, so it’s natural you’ll want to try and help ease that burden if you can – that’s why estate planning can be so valuable. Going through the estate planning process will also help you understand whether you can afford to offer financial support to loved ones while you’re still alive. There will be IHT implications to consider, but providing support now could have a bigger impact than leaving an inheritance – and you’ll be around to see the benefits.
Estate planning isn’t a one-off event. That’s because your circumstances will change throughout your life, and because the rules around tax, savings and inheritance are complicated and subject to change. And if your estate includes assets in more than one country, you’ll also need to understand how the rules around residency might impact your estate.
To ensure your wishes are reflected, make sure estate planning is regularly on the agenda when you meet with your financial planner.
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What our clients say
BR Wombourne
We’ve been using Mark and his team for many years and are so impressed with their caring professional service. We fully entrust our risk management and retirement planning with them. It is a comfort to know that our investments are in good hands.
We’ve been using Mark and his team for many years and are so impressed with their caring professional service. We fully entrust our risk management and retirement planning with them. It is a comfort to know that our investments are in good hands. BR Wombourne
IL Kidderminster
Mark and his financial planning team have been advising me for many years. I’m delighted with the service they provide and I can highly recommend them.
Mark and his financial planning team have been advising me for many years. I’m delighted with the service they provide and I can highly recommend them. IL Kidderminster
CC Evesham
Mark has been our Financial adviser for 16 years, and during this time, Mark and his team have acted in a thoroughly professional yet friendly manner. We trust him implicitly and have seen our investments prosper. We would recommend Unity, wholeheartedly, to anyone needing financial assistance and advice.
Mark has been our Financial adviser for 16 years, and during this time, Mark and his team have acted in a thoroughly professional yet friendly manner. We trust him implicitly and have seen our investments prosper. We would recommend Unity, wholeheartedly, to anyone needing financial assistance and advice.CC Evesham
RB Redditch
I needed some help with retirement planning and found Mark and his team to be reliable and friendly to deal with. I received sound and practical advice which has given me peace of mind with my retirement saving.
I needed some help with retirement planning and found Mark and his team to be reliable and friendly to deal with. I received sound and practical advice which has given me peace of mind with my retirement saving.RB Redditch
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Pensions
Financial freedom is the goal, but what's the best way of achieving it?
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Retirement
When work stops, life continues. With careful planning, we can make sure you enjoy a fulfilling retirement.
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Legacy
Opening up a world of opportunity for your kids and theirs
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