Inheritance tax and family wealth
Reducing the tax burden for future generations
Securing your family’s financial future
For many clients, estate planning is the process for passing wealth down through the generations in the most efficient manner and ensuring family wealth is protected and preserved. Our role is to help clients to develop a coherent long-term strategy and to implement tactical solutions that underpin this strategy.
When looking to the future, it is perhaps inevitable that our thoughts turn to inheritance tax and the understandable desire to reduce the tax burden on assets passed to our loved ones. With inheritance tax currently at 40%, there is potentially a large tax liability for your estate and careful planning in this area can really add value and save substantial sums. Trusts can also be helpful to protect family assets or to pass assets through multiple generations.
At Wallis Wealth, we help our clients to protect and preserve their wealth for the benefit of their family and loved ones. We work with a wide range of clients in very different personal and financial circumstances and at all stages of life, helping to ensure they and their loved ones are taken care of, now and in the future. There are many options to consider and almost every case is different due to unique family circumstances. We will identify the optimal strategy to minimise exposure to inheritance tax and maximise the value of your estate for the benefit of your loved ones.
Some clients want to establish an element of control when passing on assets. They may want their beneficiaries to use the money for a particular purpose, such as paying for school fees or purchasing property. Or they may want to make sure their money stays within their family over the long term and through the generations. We can ensure your estate is passed to the people you specify, for the reasons you choose, exactly in accordance with your wishes.
Our specialist inheritance tax and family wealth services
- Cashflow modelling
- Tax planning
- Managing inheritance tax
- Making financial gifts
- Trusts
- Residential nil rate band advice
- Passing on a pension
Estate planning isn’t just about passing on inheritance to the next generation, it’s also about living life today and enjoying a high standard of living, while looking to the future with confidence. That’s why it’s important to start planning as early as possible. In this way, we can help you to establish how much money you need to maintain your lifestyle, considering other potential expenses such as the cost of long-term care, help you to pass on assets in the most effective way and manage and reduce inheritance tax liability for your loved ones. Our service begins with a discussion about your current financial circumstances and your future objectives, to gather the information we need to forecast your future finances – a process known as cashflow modelling – which will give you the confidence that you are on track to achieve your short- and long-term goals.
HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen. For specific tax advice, please speak to an accountant or tax specialist.
For more information about how we can help to ensure your affairs are in order and your family provided for, call us today on +44 (0) 800 228 9928 to book a no-obligation consultation.
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How can we help?
To start our conversation, just give us brief details about your enquiry below or call today on
+44 (0) 800 228 9928.
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