Inheritance tax planning
You have worked hard to accumulate your wealth, so it makes sense you would want your family to benefit from all your efforts. With the correct measures and strategies in place, your loved ones can inherit all the assets they are entitled to while reducing your tax liabilities.
How to pass on your wealth in the best way possible
Legacy planning helps to transfer your wealth and assets from you to your loved ones. It can become quite complex depending on the size and arrangement of your estate, which is why people often seek the help of a financial expert to ensure everything is done correctly - and in the most tax-efficient manner.
It all comes down to inter-generational planning: how would you like to distribute your wealth to help your family? This doesn’t always mean waiting until you pass away, instead, it could mean giving gifts (with the help of your maximum annual allowance) to pay for your child or grandchild’s wedding, to help them get on the property ladder, or to contribute to their graduate education.
Ultimately, it all comes down to your objectives, how you would like to pass on your wealth, and the complexity of your estate.
The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.
Some of the services we can offer you
Pure life cover
Pure life cover involves providing financial support to your family in the event of your death. It’s an extremely important decision and one that ensures your family are looked after and able to continue their lives without the financial strain that could occur.
Whole of life cover
With whole of life cover, your family could be paid a lump sum in the event of your passing or becoming terminally ill. This insurance policy ensures you will be covered for the duration of your life and could greatly ease the burden of the situation for your family.
Legacy for children
Looking after your children and ensuring they inherit your wealth is paramount for many people’s families. You have worked hard to build your assets and accumulate wealth, so we are here to help you leave a legacy for your children and loved ones.
How Hansa Wealth Management can help you
There are many reasons people seek to prepare a legacy plan. It's a case of passing wealth to your loved ones, whether it’s here and now (such as making use of an annual gift allowance) or perhaps making considerable donations to charities that are close to your heart. We can help you do this in the most tax-efficient manner possible.
In terms of inheritance tax liability after your passing, there are many aspects of your estate to take into consideration, such as the value of life insurance policies, pensions, property, savings, trusts, and gifts made to family members and charities in recent years. Depending on the size of your estate, there might also be a percentage of tax due upon your passing.
With careful planning and the right strategies, we can ensure your family and loved ones inherit the maximum amount they are entitled to, giving you peace of mind every step of the way.
The levels and bases of taxation and reliefs from taxation can change at any time and are dependent on individual circumstances.
