Wills, Probate and Trusts
Wills and Probate
Making a Will is the only way to ensure that your Estate is distributed to the people you want to benefit from it. It also prevents the estate being delayed through the complex and expensive legal process of dying intestate. Wills can be used to protect beneficiaries against the potential pitfalls of remarriage, divorce, long term care and insolvency as well as ensure that the future generations are able to benefit at an age deemed appropriate by you.
Probate can be time consuming and stressful. Bright Blue Wealth Coastal work in conjunction with our clients to ease this process and reduce the administartive burden on the Estate.
Will Writing and Probate are not part of the Openwork offering and is offered by us in our own right. Openwork accepts no responsibility for this aspect of our business. Will Writing and Probate are not regulated by the Financial Conduct Authority.
There are a myriad of different ways to use trusts in your estate planning, but the primary driver is to ensure that you control who receives your money and when. The most effective use of trusts can significantly mitigate the effects of inheritance tax as well as provide a vehicle for you or your family to derive income and flexibility in your financial planning.
Used properly, trusts can significantly reduce the burden of the probate work necessary within your estate and ensure the money is received by your beneficiaries without the lengthy delays often associated with probate. Unlike the residue of your estate, which involves the settlement of the inheritance tax liability before assets can be sold, a trust can move the money directly to the family which often reduces the requirement of bridging loans and so forth.
The advisers at Bright Blue Wealth Coastal have many years of experience in sifting through the complex choices and solutions available to help mitigate inheritance tax and will go through the various types of trusts and investments available that will aim to reduce the threat of IHT on your estate within the objectives and timescales you have.
HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen.