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Last Will and testamentYour Will is probably the most important document that you will ever own. Not only can it help safeguard your family and  appoint the guardians of your children, it can protect your assets and valuables that you have spent your life working for. More importantly, it will also ensure that these valuables go to the people you want them to and avoid the value being depleted by paying unnecessary Inheritance Tax.

If you do not have a Will in place the Government will decide who inherits your possessions, property and money according to the Laws on Intestacy. These laws were drawn up in the 1920’s and may not match your wishes or assist you in protecting your family’s inheritance.

7 out of 10 people have not written a Will and others may have out of date Wills therefore estates are not being distributed as they should. Not only do Fiducia Estate Planning Services draft your Wills but we also  offer a fully advised service and will tailor your Will to suit your own needs and safeguard your assets from Inheritance Tax.

We can advise you on naming guardians, help to ensure ex-spouses do not benefit from your estate and can preserve cash and assets for members of your family.

The only requirement we have is that you are over 18 years of age.

Don’t delay! Please contact us today on 01623 666844 and speak to one of our estate planners who will be pleased to advise you on our Will and Asset Protection products.

Examples of our products:

Asset Protection Plan

    • Mr and Mrs Smith are married and have 2 children. They have an estate of £500,000. When Mr Smith dies he leaves £300,000 into the Trust and everything else passes to Mrs Smith. Mrs Smith then becomes ill and needs residential care. The local authority assesses her situation….
    • Mrs Smith has an estate of £500,000 but £300,000 of this is in Trust. Therefore the maximum the local authority can be reimbursed for the long term care of Mrs Smith is £180,000, regardless of the time spent in care. 
    • Without the Trust, Mrs Smith’s estate would have been £500,000 and the local authority can pay for care until assets are depleted to less than £20,000.
    • Without the Trust, almost all the estate can be swallowed up by paying for long term care. 

    2nd Death Discretionary Will Trust

    1. Mr and Mrs Brown have an estate of £600,000 and have a son with an estate also £600,000. Their son has 2 daughters.
    2. When Mr Brown dies he passes his entire estate to his wife.
    3. When Mrs Brown dies she passes the estate to her son.
    4. When their son and his wife die they pass everything to the children (the grandchildren) & they inherit £1.2 million. They inherit £600,000 free of IHT but have to pay Inheritance Tax on the rest. Therefore there is a £240,000 tax bill.

    The solution is as follows:

    1. Mr Brown dies and passes everything to his wife
    2. On Mrs Brown’s death £600,000 goes into Trust rather than passing to her son with the grandchildren as beneficiaries
    3. When the son and his wife die their estate is £600,000, which passes to the 2 children, free of IHT.
    4. The children also have £600,000 in Trust from grandparents on which no Inheritance Tax is payable.
    5. There is no Inheritance Tax to pay and we have saved the grandchildren £240,000.

    The Trusts enables the children/grandchildren to use money for school or university fees, fund a gap year or travelling, help buy their first home, repay debts… in summary the children will not have to worry about money.

    Last Will and TestamentHow can FEPS help you?

    Here are some examples of circumstances where our Estate Planners can help you:

    • Jane divorced aged 25 with 2 children.

    For the above scenario Fiducia Estate Planning Services would recommend a single Will, which names guardians for Jane’s children. We would also recommend Jane excludes her ex husband in her Will to help prevent him making a successful claim on her estate.

    • Paul and Joanne, a married couple with a 16 year old disabled son.

    Fiducia Estate Planning Services would recommend a joint Will which includes a disabled Trust. This would ensure that any legacy their son receives would not effect any means tested benefits he is already receiving.

    • Tom and Sarah aged 20 and 21 buying their first home and are not married

    Fiducia Estate Planning Services would recommend a joint Will to ensure the estate passes to each other rather than to parents as per the laws of intestacy.

    Don’t delay! Please contact us today on 01623 666844 and speak to one of our estate planners who will be pleased to advise you on our Will and Asset Protection products.

     

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