Legacy planning

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Years combined property tax experience
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Our aim: 100% compliance with legislation

The ultimate in sustainable property tax planning..

The goal of family legacy planning is a net-zero tax transition of your assets to the next generation of your family, simply by using rules and regulations contained in UK legislation

Legacy planning is relevant to those of us who want to pass on to our children, and to our grandchildren, the assets we have worked for in our lifetimes

Part of that planning is to reduce your families’ exposure to Inheritance Tax, but that’s only part of it..

Love your business, maximise your legacy

We are talking about you, as custodian of your family’s assets, during your lifetime

Legacy planning is about creating a succession plan to aim to pass your assets, likely your business and real-estate, intact to your children and grandchildren

It’s about creating a strategy for family members to follow. With time, the strategy becomes a duty imposed upon successive generations and provides confidence that family wealth will endure. United in purpose, bonded in perpetuity

It’s not about thinking ‘what’s in it for me?’ It’s entirely about ‘how do I achieve this for my family?

Time is like a river, you cannot touch the same water twice

It all starts with your Will, which is the document by which you state what you want to happen to your assets when you die

You could aim to pass assets directly to, say, your son and daughter but, at best, that just kicks the can down the road, and they’re left with solving the same problem in future

Then there are tax issues to consider. Ah, those pesky tax rules!

A better solution may be to create a trust, and have your children as beneficiaries

Cluster luck

It’s not new, it’s what the great aristocratic families have been doing for centuries, and all of the good bits of that planning can be applied to you and your family. The numbers might be smaller, but most everything else is the same

Some assets lend themselves better to this process than others, and businesses and real-estate are perhaps the best categories of all

Your legacy will be achieved by planning those assets in a tax-efficient way, so that they survive you, for the benefit of your family

Reasons to be fearful, parts one, two and three

– Ian Dury

Proper legacy planning may provide palatable answers to the 3 questions you’re likely already asking yourself:

Where there are significant potential capital gains in your property portfolio then it’s almost a no-brainer, as the capital gains may be ignored

Take control of your life or life will take control of you. Doing nothing is the worst strategy of all and, likely, benefits HMRC most

If you’re paying more than lip-service to ‘my family is my priority’ then it’s straightforward to create a family legacy, by way of a trust

The best way to predict your future, is to create it

– Abraham Lincoln

Don’t need a weatherman to know which way the wind blows..

– Bob Dylan

Trusts have been around since the time of the Crusades and both the tax authority and the tax profession knows them well. A track record of almost 750 years and still effective today

Creating and implementing the right kind of trust, with all the rules and regulations met, and tailored to the exact circumstances of your family, requires experienced experts..

Love is in the heir..

Done properly, you create it, with your rules, to pass your legacy and your lifetime’s work, to future generations of your family

A well thought out and executed legacy plan can have a tremendous influence on family harmony

..and the forests will echo with laughter.. Jimmy Page & Robert Plant

Planning your living legacy will take work and effort on your part, but if you know the process, starting with the end in mind, then you can reverse engineer the exact steps to produce the perfect inter-generational plan for your family, with everything in one place

Legacy planning is the best gift you can give your family

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