Inheritance & Estate Planning Advice
Inheritance Planning & Advice in Bovingdon
We provide independent inheritance tax (IHT) and estate planning advice to individuals and families, helping you make the most of available allowances and plan effectively for what you want to leave behind.
Understanding your family’s succession planning needs
Inheritance Planning Overview
We recognise that the protection of wealth for the benefit of loved ones can be of vital importance and therefore overcoming the potential obstacle of inheritance tax has become more crucial than ever due to recent legislative changes. Without effective succession planning, HMRC could receive a greater amount of your wealth, some or all of which could, with planning, be retained by the people you want to receive it. To ensure that your loved ones benefit from your estate, once you are gone, ask us for IHT and succession planning advice.
Succession planning can help you consider:
- The potential value of your estate
- Your possible inheritance tax exposure
- The people you want to benefit
- Which assets may need protecting
- Available allowances and exemptions
- Gifting during your lifetime
- The use of trusts or other structures
- How much access you need to retain
Estimate your potential Inheritance Tax liability with our free IHT calculator
Understand Your Position
Our IHT calculator can provide an initial indication of your potential inheritance tax position, giving you a useful starting point before discussing your circumstances and wider succession planning objectives with an adviser.
Please use the calculator with confidence. Any figures you enter remain private and are not submitted to, received or viewed by PF Financial unless you explicitly choose to submit your details at the end for a follow-up discussion.
The main components of a considered succession plan
Succession Planning Strategies
Based on our discussions, we will advise you on the most appropriate strategies to achieve your aims. Effective estate planning often means balancing access to your assets during your lifetime with the desire to pass them on as tax-efficiently as possible, which can result in several different approaches being used together.
Lifetime Access & Control
Effective estate planning should balance the access and control you may need during your lifetime with the desire to pass wealth on as tax-efficiently as possible. This balance can influence which strategies are most appropriate.
Allowances & Exemptions
We will always consider the effective use of available allowances and exemptions as part of the wider succession plan, helping you understand which opportunities may be relevant to your estate and family circumstances.
Gifting & Trusts
Gifting often plays a role, either directly or through one or more trusts. Trust planning can go beyond the initial transfer of wealth by helping assets benefit more than one generation, depending on the structure used.
Family Investment Companies
In some cases, the creation of a Family Investment Company may be beneficial. This can provide a structured way to manage and pass on family wealth while retaining an appropriate level of control over the underlying assets.
Property/Agricultural Relief
Certain qualifying business and agricultural assets may be eligible for inheritance tax relief. The availability and rate of relief depend on the assets involved, the relevant ownership conditions and the rules in force at the time, so specialist tax and legal advice may also be required.
Life Assurance
We will also consider whether Life Assurance could help protect against a potential inheritance tax liability, providing funds that may help beneficiaries meet the tax due without placing unnecessary pressure on other estate assets.
Building a succession plan around your family and final wishes
How the advice process works
Every individual’s family circumstances are different, so we begin by understanding what you want to achieve, which assets matter most and how you would like your wealth to be passed on.
Understand your objectives
Working closely with you and your family, we will listen to your objectives so we can gain an understanding of what you want to achieve for your family.
Establish the size of the problem
The starting point is to ascertain the size of the problem. We can also establish you and your family's wishes in terms of what assets need protecting and what options are available.
Consider the available options
Using what we learn, we will recommend a tailored succession planning strategy designed to protect your estate, make effective use of available allowances and help more of your wealth pass to the people you choose.
Create a suitable strategy
Effective estate planning often means balancing access to your assets during your lifetime with the desire to pass them on as tax-efficiently as possible and this can result in many different strategies being used.
A bespoke approach to inheritance planning
Why choose PF Financial?
We have in-depth experience helping private clients to manage their exposure to UK IHT, preserving wealth for the benefit of the next generation. Working closely with you and your family, we will listen to your objectives so we can gain an understanding of what you want to achieve for your family
In our experience, there is no ‘one-size-fits-all’ solution or product. You need a bespoke solution for your family’s unique circumstances, and that is what we will provide.
When you choose PF Financial, you can expect:
- Independent IHT and estate planning advice
- Advice shaped around your family and wishes
- In-depth private client experience
- A range of planning strategies considered
- No cost or obligation initial discussion
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What our clients say:
James Pinder has been amazing from the start. So responsive, gave honest advice, went over and above to help us with our home. Cannot recommend him enough. Thank you James.
James at PF Financial has been absolutely brilliant in relation to our remortgage application. He has been very quick to respond to queries and very knowledgeable. Would highly recommend.
James has been really helpful with my mortgage process, finding a deal efficiently and providing all the guidance I needed. Would definitely recommend!
Want to pass on more of your wealth to the people who matter?
Get in touch
Effective succession planning begins with understanding your estate, your family’s needs and what you want your wealth to achieve. Speak to PF Financial for independent inheritance tax and estate planning advice shaped around your individual circumstances.