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The importance of estate planning – What should you consider?

Estate planning is an essential part of financial management that enables individuals to protect and distribute their assets in a way that meets their wishes and minimises the tax implications for their beneficiaries.

Estate planning can be a complex process, with various legal and tax considerations to consider.

Why is estate planning important?

Estate planning is critical for several reasons, including:

Asset protection

Estate planning allows individuals to protect their assets and ensure they are distributed according to their wishes, avoiding any disputes or claims on the estate.

Tax efficiency

By implementing a well-structured estate plan, individuals can minimise their tax liability, ensuring that their beneficiaries receive the maximum possible inheritance.

Legacy preservation

Estate planning enables individuals to preserve their legacy by ensuring that their assets are passed down to future generations or donated to charitable causes.

How can we help with estate planning?

We have extensive knowledge of estate planning laws and tax regulations and can offer guidance on how to structure an estate to minimises tax liabilities, meets your wishes, and ensures that your beneficiaries are adequately protected.

Our services focus on:

Trusts and other legal structures

Private client services can help individuals establish trusts and other legal structures that offer asset protection and tax efficiency benefits.

Administration support

After an individual passes away, a private client service can help with the administration of the estate, ensuring that the estate is distributed in accordance with the individual’s wishes.

For more advice on this, get in touch with us now.

Mander Hadley

Mander Hadley Solicitors is not only a long established firm, but is vibrant and successful, with a forward thinking approach.