Estate Planning
Trusted insurance advice, tailored for you.
Estate Planning
Planning what happens to your estate after you’re gone is one of the most important steps you can take to protect your loved ones. Estate Planning helps ensure that your assets—such as property, investments, savings, and personal belongings—are passed on in line with your wishes while minimising tax liabilities and legal complications for your family.
A carefully prepared estate plan can include making a will, setting up trusts, designating beneficiaries, assigning powers of attorney, and putting plans in place for potential long-term care needs. Everyone’s circumstances are different, so estate planning is not just for the wealthy—it’s for anyone who wants to have a say in what happens to what they’ve worked hard for.
There are many aspects to consider, from tax efficiency and inheritance to care costs and legal documentation. Please feel free to contact us—one of our experienced advisers will guide you through every step, helping you create a plan that brings peace of mind to you and security to your family.
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Who's who?
There are three main parties concerned with a trust. These are as follows:
Usually referred to as the donor or settlor, the ‘plan-holder’ is the individual who has taken out an insurance policy to protect their family and friends should they pass away. It is their responsibility to allocate a trustee and nominate beneficiaries.
As a trustee, you have part ownership of the plan-holder’s policy and therefore have a certain amount of administrative rights. Whilst you cannot personally make any changes to the policy independent of the plan-holder, you may be asked to acknowledge changes they themselves have made. Additionally, it is your role as a trustee to ensure that the terms of the trust are carried out in accordance with the plan-holders wishes, once they have passed away. If you have already been appointed as a trustee and would like to know more about what your role entails, then we’d be happy to talk you through this. Call us today, on 0113 895 0030, where one our advisers will be available to take your call.
The persons who are, or may become, entitled to receive the plan proceeds are called the ‘beneficiaries’. A trustee can also be elected as a beneficiary and discretionary trusts enable changes to be made to beneficiaries if required at a later date.
The Financial Conduct Authority does not regulate taxation and trust advice.
