When you’ve worked hard all of your life, you want to make sure that your assets are passed on to your loved ones.
Unfortunately, life is always full of uncertainties. Without the right planning and advice, your wishes may fall victim to a whole range of changing circumstances. For example, have you planned for any of these situations?
- What happens if your spouse remarries after your death? Will your children still inherit the share you intended, or could they even be disinherited if the new partner outlives your spouse?
- What if a beneficiary gets divorced? Will your assets end up becoming part of the divorce settlement?
- What happens if an heir gets into financial trouble? Could their creditors seize their inheritance?
- What if a beneficiary dies prematurely? If it were your child, their spouse could remarry and your grandchildren could be disinherited.
- If a beneficiary isn’t ready to inherit? If they are young, vulnerable or suffer addictions, you may want the inheritance to be released in stages and under supervision.
- If someone decides to challenge your Will? If they did, would they be likely to succeed and would your assets be protected?
There are many other situations that could overturn your wishes. But with the right planning, there are strategies that can protect your assets – such as putting them in Trust.
Our legal team is able to advise you on how to make the Will that best documents your wishes and whether or not setting up a trust will help ensure they are carried out. And because our legal team and our accountants work closely together, we can also help you plan for Inheritance Tax – ensuring that as much of your hard earned assets reach the people you want to inherit them.
To learn more and to make a free initial appointment, contact us today. We’re looking forward to being of help.