Passing on your wealth

We understand your desire to protect the wealth you have worked hard to build, and the need for it to fund your dreams, your lifestyle, and your legacy.

Your wealth adviser will work out how much money you’ll need for the rest of your life and how much you can afford to give away. They will consider lifetime gifting, post death legacy, including inheritance tax planning, and gifting plans. With your permission, your adviser will work with other trusted parties such as your solicitor or accountant, and any other key advisers you choose.

Having a will in place is vital, as well as ensuring that it remains valid (many people do not realise that marriage, for example, invalidates a will). Equally, while many consider ‘powers of attorney’ to be a matter for old age, good planning in this area can also protect you in cases of unexpected health needs or serious injury. While such topics can be highly emotive and uncomfortable, they could be critical in protecting your assets against being frozen or ending up in an unintended place.

Careful estate planning helps you pass on assets tax-efficiently, allowing your family and others to benefit from a greater share of your wealth. But it can be complex area and often requires specialist advice. Inheritance tax in particular can leave an unexpected hole in your legacy if you don't take steps to reduce its impact during your lifetime, such as by gifting your wealth. Your wealth adviser and our tax team can guide you through the rules around making gifts and annual gift allowances, and build those into your financial plan.