Estate planning is all about making sure that your assets go to the right people at the right time. The main four areas you'll want to consider as part of any review are your wills, your inheritance tax position, whether trusts are needed and lasting and enduring powers of attorney. These four together will help to ensure that your money goes where you want it to after your death.
Wills are not regulated in the UK so it is possible to have one that is completely inadequate for your circumstances.
Circumstances also change over time so it is important to treat your Will as a living document.
If you don't have a valid will in place when you die then your money, property and possessions will be shared out according to the law of intestacy, instead of your wishes.
Managing your tax liabilities is not about avoidance, but about making sure you understand the tax system and managing it accordingly.
Tax laws in the UK are complex and so it is necessary to sit down and review all of your assets, how you want them distributed in the event of your death and then planning out how to do that in the most tax efficient way possible within the bounds of the law.
We will guide you through this process.
When planning your estate trusts are an important concept to understand because they are a useful tool and not just for the super wealthy.
There are many different types of trust that can be used depending on the complexity of your financial affairs, business and family situation.
At its most basic, a trust is simply a mechanism/vehicle that deals with how, when and the conditions around how you want your assets distributed after you die.
Powers of Attorney
We live much longer lives now and we don't always have the capacity to deal with our own affairs until the end.
A Lasting Power of Attorney lets you take control of who has the power to deal with your affairs if you are unable to.
If the unimaginable happens, having this in place will leave your family in a much better position and means that they won't have to go through the Court system to deal with your affairs. Note you may also need one for your business if you own one.
"Mike has been advising me on financial matters for over 15 years through many changes in the financial industry. I have found him to be honest and very knowledgeable in an area that I find confusing at the best of times. I would happily recommend Mike's services in this area to colleagues who need advice with their financial affairs."
"I've just had my first meeting with my new IFA, Helen Fraser. Just wanted to let you know how impressed I am with her, both as a Financial Adviser and as a person! She fits right into the Orchard ethos - approachable and empathetic as well as financially skilled - and I can see why she's working with you - well done for finding her. Keep her, I like her! :)"
"Excellent investment advice for my client, very easy to do business with."
"I'm a financial numpty, so it's fantastic to know that Mike is there to make sense of it all for us. I trust him implicitly to guide us in our financial decision-making."
"Your (Steve Hedges) knowledge of the financial market is exemplary and savings that you helped us make way offset the charges incurred. We both felt at ease and were confident that your advice would be beneficial to us."
"I'd really like to recommend Stuart Logan of Orchard House IFAs, who has
just come to give us some financial advice. This is the third time we have used Stuart. As usual, he has offered some really interesting and useful advice, and we have been really impressed every time we have used him."
“Damian was incredibly helpful in re-phrasing in simple terms to allow me to better understand the questions being asked. He was absolutely incredible and made, what I expected to be a difficult process, incredibly easy. I have great trust and faith in Damian. Thank you” ~ Kelly Hobbs
"Helen is wonderful and she does her best with someone who really struggles with figures and financial concepts" ~ Elisabeth Skinner on 07/03/2019
"I find Stuart to be curious, helpful and massively professional, thank you!" ~ Nikki Watkins on 19/06/2019
"I like the personal touch, it wasn't just about my finances. A connection really helps in having trust and confidence in what you are being told. Elaine gave met that" ~ Chris Hancox on 24/09/2018
"Tricia and I would like to thank you for all the advice and help that you have given us over the past couple of years. Your knowledge of the financial market is exemplary and the savings that you helped us make way offset the charges incurred. We both felt at ease and were confident that your advice would be beneficial to us. On another note, the investments made for a close friend helped to make her final few years comfortable in the knowledge that her financial affairs were in such good hands and that her capital will still intact on her passing. I have and will continue to recommend you at every opportunity" ~ James and Tricia Rice on 15/11/2017
Not sure what you need?
Call us on 01491 412 513
Financial planning and advice for people and businesses across Berkshire, Buckinghamshire, Oxfordshire, Hampshire, Surrey & beyond.