Estate planning advice
Estate planning is a crucial aspect of financial planning that is often overlooked, but it plays a vital role in preserving your assets and financial legacy.
At Sterling Law, our team of estate planners is here to help you navigate the complexities and ensure that your wishes are carried out after you’re gone.
Estate planning & inheritance tax
Inheritance tax (IHT) is a tax on your estate when you die and is also sometimes payable on trusts or gifts made during your lifetime. This includes the total of everything you own and a share of anything you own jointly. Things that might count towards your estate include:
- Investments and savings
- Pension fund(s)
- Certain gifts or assets held
Looking for a local estate planner?
For a free initial consultation with a local estate planner, call 020 3740 5856
The estate planning process
The planning process involves several steps, including:
- Gathering information about your assets and liabilities
- Identifying your beneficiaries and heirs
- Determining how you want your assets distributed
- Creating a will or trust
- Reviewing and updating your plan as needed
Our estate planners will work closely with you throughout each step to ensure that your wishes are reflected in your plan.
Working with an estate planner
Our estate planners have extensive experience in this area and can help you with:
- Creating a comprehensive estate plan
- Reviewing and updating your existing plan
- Setting up trusts
- Estate tax planning
- Charitable giving
- Business succession planning
What are the benefits?
Working with an estate planner has many benefits, including mitigating taxes and preserving your financial legacy.
Our experienced estate planners will guide you through the entire process and help you create a plan that meets your unique needs and goals.
Looking to protect your estate?
For a free initial consultation with an estate planner, call 020 3740 5856
Preserving your assets & financial legacy
The estate planning process can help you preserve your assets and financial legacy by mitigating taxes and ensuring that your assets are distributed according to your wishes.
Our estate planners will work with you to create a plan that meets your needs and goals, and we’ll ensure that your plan is up-to-date and reflects any changes in your life circumstances.
Helping you reduce your tax liabilities
At Sterling & Law, there are a number of things we can do to help you to reduce your family’s tax bill.
- Write a will – an effective one could help to reduce your inheritance tax bill.
- Understand your exemptions – there are a number of these you can use to reduce the value of your estate. For example, moving assets between spouses or civil partners.
- Consider gifts – if you can afford to give away some of the assets you own, it may be possible to reduce the size of your estate.
- Use life assurance – a life assurance plan will not lessen the inheritance tax bill, but the proceeds could be used to help pay the bill on death.
- Create trusts – if structured carefully, trusts can help to reduce or even eliminate your inheritance tax liability.
Schedule a consultation with an adviser
If you’re ready to start the estate planning process, our estate planners are here to help. Contact us today to schedule a consultation with one of our experienced estate planners.
We’ll review your unique situation and provide you with the guidance you need to create a comprehensive estate plan that meets your needs and goals.
Our estate planning advisers
Looking to discuss your requirements? Find a local adviser from the list below.
Sterling Law has a network of estate planners across London, the Home Counties, and the South of England. Our advisers are experienced and knowledgeable in all areas of estate preservation , and we’re here to help you create a plan that meets your unique needs and goals.
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Estate planning involves preparing and managing an individual’s assets in the event of their death or incapacitation. This includes the distribution of your property, minimising tax liabilities, and ensuring your wishes are carried out.
There are many benefits of estate planning. You will find out more about them in the next FAQ, below.
Estate planning allows you to plan and manage your assets during and after your lifetime, minimising taxes, and distributing your assets according to your wishes.
It provides peace of mind and ensures your financial legacy is protected for future generations.
One of the major benefits of our estate planning service is that it isn’t just the preserve of the wealthy. Anyone can take control of their financial legacy by working with an estate planner.
Estate planning and inheritance tax (IHT) advice are related but not the same. Estate planning involves distributing your assets effectively after death, while IHT advice focuses on strategies to minimise tax liabilities on your estate.
Both are crucial for effective long term, tax-efficient wealth management.
Of course, we offer a comprehensive inheritance tax service. As a result, we have an end-to-end service catering to your estate planning and tax mitigation requirements.
Our inheritance tax advice service helps mitigate and in many cases avoid paying IHT. Our experienced advisers are located across London, the Home Counties and the South of England.
An estate planner will help you manage and protect your assets, create a plan for the distribution of your wealth upon death, and minimise tax liabilities.
They also provide guidance on powers of attorney, wills, trusts, and other legal documents.
A good, local estate planner will be diligent, and we would always recommend working with a company that has a solid track record in this area.
Our estate planners are located in London, the Home Counties and across the South of England.
We offer services across London, Essex, Hertfordshire, Bedfordshire, Kent, Surrey and Hampshire. Furthermore, we have expanded into the Midlands and have an adviser covering Leicestershire and Rutland.
An estate planner can help ensure your assets are distributed according to your wishes, minimise estate taxes, and provide peace of mind.
They can also assist with legal and financial matters, including wills, trusts, and probate, as well as offer advice on charitable giving and asset protection.
The most obvious benefit to working with an estate planner is they are a professional, who will have years of experience. You can always trey ad go it alone but you could make some costly mistakes.
The most common estate planning mistakes include not having a will, failing to update who your beneficiaries are, and overlooking potential tax liabilities.
Additionally, not planning for disability, and assuming estate planning is only for the wealthy are other common estate planning mistakes people make.
Additionally, not seeking professional advice can lead to errors or missed opportunities for optimal wealth management and asset distribution.
It’s best to start estate planning as early as possible, ideally when you start accumulating assets or have dependents.
It’s never too early to start planning, but it can be too late if you wait until you’re seriously ill or have already passed away.
The estate planning process involves identifying your assets and their value, determining your beneficiaries, and creating a plan to distribute your assets to your beneficiaries.
The main aim of this service is to ensure your estate is protected in a tax-efficient manner after you pass away. It also involves creating legal documents such as wills, trusts, and powers of attorney. An estate plan should be reviewed and updated regularly to ensure that it remains current and meets your needs.
This is reviewed on a case-by-case basis depending on the level of work required.
Our fee structure is transparent and you can find out how much we charge by visiting the page titled; ‘How We Are Paid’
At Sterling & Law, we offer a broad range of financial services.
The services related to estate planning are inheritance tax advice, wealth management, and financial planning.
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