Estate planning checklist

helping you take care of your and your family’s future

1. Are your Wills up to date?

   Time can really fly and it’s unlikely that you’re in the same position now as you were five years ago. It’s important that your Will suits your current circumstances, so why not take advantage of our FREE Will review service?

2. Inheritance Tax

   The rules relating to inheritance tax are complex. Ensure that you understand whether inheritance tax will be an issue in your estate and if so, consider any steps that might be taken to mitigate the amount paid.

3. Life insurance

   This is often overlooked in estate planning; however, it can be a very effective planning tool. It’s crucial to be aware of what your policy will pay out and to whom, as this may have tax implications for your estate.

4. Lasting Powers of Attorney

   We all know someone who can no longer manage their own affairs through either mental or physical incapacity. Making an LPA provides peace of mind by allowing you to choose who would take on this role for you should you be unable to manage this yourself.

5. Trusts

   Have you considered whether a trust could help to protect assets for your family? Maybe you are happily married and each have children from previous relationships, or perhaps you have a child with a disability. In these circumstances, trusts can be used to benefit you.

Contact Thorneycroft Solicitors today

Call us now on FREEPHONE 0800 1979 345, or complete our simple enquiry form.