Estate planning

Estate Planning

Few of us like to think about dying, but equally few of us could live with the thought that we have not made adequate provision for family and friends who survive us.

The legislation that governs passing on your estate to your chosen beneficiaries requires you to plan well in advance. Since none of us knows when we shall die, this means making the necessary provisions now.

The earlier you make the arrangements, the greater your chance of taking full advantage of the tax opportunities available and thereby maximising the amount that goes to your beneficiaries. Nothing is more demoralising than the thought that a substantial slice of the wealth you have worked hard to accumulate will end up in the Government’s coffers!

It is equally important when planning to transfer your estate that you make adequate provision for yourself and your spouse in your later years. Striking this balance calls for considerable skill and foresight and a detailed knowledge of the tax regime.

We provide a discreet estate planning service that includes:

  • Help with drawing up and reviewing your will and where appropriate, acting as executors or trustees.
  • Help with drawing up a Lasting Power of Attorney
  • Making full use of exemptions and lower tax rates on lifetime transfers
  • Optimising lifetime transfers between spouses
  • Transferring agricultural or business property
  • Transferring assets into trust
  • Arranging adequate life assurance to cover potential inheritance tax liabilities
  • Making provision for long term care
  • Utilising tax efficient investments

We strongly advise you to begin your estate planning right away by contacting us for a preliminary review.

Elder Care

We have all seen the statistics about how much longer we can all expect to live, and already, our population has a steadily growing number of octogenarians. This is wonderful news for families providing their elderly relatives remain mentally capable, but for a growing number of families, ageing relatives are becoming a considerable burden as their mental capacity declines and their needs for support and care increase. And even for those relatives who do retain their full mental capacity, handling their financial affairs efficiently can become a great worry for them and their families.

At Lentells we have a specialist team who can look after the needs of elderly relatives, taking the strain from them and their families and ensuring that their financial affairs are handled efficiently and effectively in order to maximise their income and wealth. Where capacity is diminished, we can act under a Power of Attorney or we can arrange an application to the Court of Protection for an appointment of a Deputy to make decisions for people lacking capacity to make those decisions. If appropriate, someone at Lentells can act as the Deputy and deal with the individual’s property and affairs.

We can provide help and assistance regarding funding for care home costs and making sure that financial assessments are properly carried out. This is essential in situations where an individual might qualify for NHS continuing care where the Primary Care Trust is actually responsible for assessing eligibility and arranging the funding of the care. It may not be a cost that has to be borne by the resident or their family.

So if you have concerns about an elderly relative who may need help with their financial affairs, contact:

Talk to an expert