By planning now for the future you can ensure your wishes are carried out and your possessions are passed on to the people you wish to receive them.
Whilst it’s natural that we think about planning for our family’s future as we get older, estate planning is not just for the retired. Wealthy people may be more likely to think about estate planning as having amassed wealth they are usually more likely to want to protect it and pass it onto future generations.
Estate planning is not a preserve of the wealthy or retired though. Everyone has an estate, no matter how substantial or modest it may be. Your estate comprises of everything you own – your home, your car, your savings, investments and personal possessions.
By planning now for the future you can ensure your wishes are carried out and your possessions are passed on to the people you wish to receive them. You can also protect your loved ones from the burden and potential high cost of administering your estate.
Effective estate planning can also include:
- instructions for your care if you become incapacitate or disabled before you die
- instructions for passing on values (such as religion, education, hard work etc)
- a named guardian for your children
- provision for family members with special needs
- provision for loved ones who may need help managing any money they inherit
- insurances to provide for your family at your death, if you cannot work due to illness or injury, or to help pay for your care in the event of an extended illness or injury
- provision for the transfer of your business at your retirement, disability, or death
- investigating inheritance tax liabilities, minimising court costs, and unnecessary legal fees
JC Solicitors can help eliminate uncertainties over the administration of a probate and maximise the value of your estate by reducing taxes and other expenses. Your estate plan can be as complex or straight forward as your needs dictate. Most importantly, estate planning is not something you do once. Your plan should be reviewed and updated as your family and financial situations (and legislation) change over your lifetime.
We work closely with experts in trust and tax laws as well as independent financial advisors and accountants, so we can provide a truly bespoke service for your needs.
No one can successfully predict how long they will live, and lives can be cut short by illness and accidents at any age. By planning your estate now and keeping it up to date as life events dictate, you can have peace of mind that when the time comes everything is in place to ensure your wishes are carried out, with minimum stress and financial burden to your loved ones.
What are the costs involved in estate planning?
If you are looking for advice or assistance with planning your estate, we offer a free 30-minute initial consultation with no obligation. During this meeting we will discuss our service and wherever possible, we will offer a fixed fee so that you know exactly what your costs will be from the outset.
Click here to arrange your free 30-minute consultation, or call our Alton office on 01420 544273 or our Chichester office on 01243 850860.