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Estate planning
Planning for your legacy is an essential part of helping to secure your financial future. Our estate planning service helps you create a tax-efficient plan, ensuring your wealth is passed on according to your wishes.
How Brooks Macdonald can help
We can help form an approach to tax, inheritance and planning, helping to preserve your family wealth through the generations. We will work with you to understand your personal circumstances, so you can make informed decisions over what’s best for you and your family.
What we offer:
Create a legacy plan
We’ll help you balance your current needs with your desire to pass on wealth, ensuring a tax-efficient plan to benefit future generations or the causes you care about.
Balance your current lifestyle with your long-term legacy
We’ll help you strike the delicate balance between enjoying your wealth today and navigating financial security for your loved ones.
Support the causes you care about
Our dedicated team can help you understand your options to do good with your wealth, such as creating legacies or charitable trusts.
Ensure peace of mind
Have peace of mind knowing that the legacy you’ve worked so hard to build will be passed on according to your wishes. Transfer your wealth tax-efficiently with our support by exploring all the options available to you.
The Brooks Macdonald difference
At Brooks Macdonald, we’ve been helping individuals plan for their financial futures for over 30 years, building long-term relationships based on trust and shared values. We understand the importance of estate planning and offer a personalised approach that considers your individual circumstances and goals.
Our team of experts can help you explore a range of options, including trusts, charitable giving, gifting assets or using allowances and other strategies tailored to your unique needs and goals.
Planning for the future:
Planning
As wealth managers, it’s our job to help you plan. We’re here to help explain where you are now, what might happen and, importantly, how you can reduce the tax burden to ensure your family, friends and loved one's benefit.
Provide peace of mind
With the legacy you’ve worked so hard to build, you’ll have peace of mind knowing that it will be passed on according to your wishes.
Full clarity
You and your beneficiaries will have total clarity over how you’d like your wealth distributed in the event of your death, easing the burden for everyone involved.
Dedicated support
We can help you develop estate planning and wealth preservation strategies as part of your broader financial plan. Our dedicated team can help you navigate the complexities of estate planning, including minimising inheritance tax liabilities, ensuring your wishes are carried out, and helping your beneficiaries manage their inheritance. We’ll also monitor and review this regularly with you.
Your questions answered
What is estate planning?
What is estate planning?
Estate planning is the process of making it clear how you want your estate – all the things you own – to be handled when you die. It includes planning for any inheritance tax liability so that your loved ones don’t have to worry about it after your death. As your financial adviser, we can help you develop estate planning and wealth preservation strategies as part of your broader financial plan. We’ll also monitor and review this regularly.
How can I mitigate inheritance tax?
How can I mitigate inheritance tax?
Most of us have allowances available to help mitigate inheritance tax. Any part of the inheritance that’s over your inheritance tax threshold will incur a 40% charge. Effective tax planning can help mitigate inheritance tax, such as gifting to people during your lifetime, or leaving assets to charity and the use of trusts. Not all are suitable for everyone so it’s important to talk to a financial adviser to plan what’s right for you. Our in-house financial advisers can work with you to form an approach.
What is a trust?
What is a trust?
A trust is a legal entity that can be created to transfer assets from one person to another. It can be a useful tool in estate planning and asset protection because assets in a trust won’t be considered within your estate for inheritance tax purposes. Most importantly, a trust is a way of ensuring tax-efficient wealth transfer and that those important to you have financial stability for their future. We can help with both the tax planning and investment side of receiving an inheritance. We’ll take the time to understand what you might wish to do with your inheritance, both immediately and for the long term.
How can I pass on my wealth, tax-free?
How can I pass on my wealth, tax-free?
It may not be possible to pass on your wealth completely tax free, but there are several things financial advisers can do to help reduce that liability. This includes making the best use of your allowances in line with your long-term financial plan. It will be important to balance what you need in your lifetime against what you would like to pass on to your beneficiaries.
I have received an inheritance, can you help me?
I have received an inheritance, can you help me?
We can help with both the tax and investment side of receiving an inheritance. We’ll take the time to understand what you wish to do with your inheritance, both immediately and for the long term.
What is Capital Gains Tax (CGT)?
What is Capital Gains Tax (CGT)?
Capital Gains Tax is the tax on the profit you make when you sell or dispose of something that has increased in value. The rate depends on what you are selling or disposing of as the rate is higher for residential property. We can help you manage your Capital Gains Tax liability through the structuring of your investments and their ongoing management by your team of experts.
What are Venture Capital Trusts (VCT), Enterprise Investment Schemes (EIS) and Business Property Relief (BPR)?
What are Venture Capital Trusts (VCT), Enterprise Investment Schemes (EIS) and Business Property Relief (BPR)?
These are high risk specialist investments designed for high net worth individuals to encourage investment in smaller businesses in the UK. They offer tax advantages to investors such as income tax relief as part of the government’s strategy to encourage investments into this area. They are high risk because of the nature of the underlying businesses and investments are often tied up for a number of years.
I've sold my business. What should I do with the money?
I've sold my business. What should I do with the money?
We can help you consider all the different options around selling your business, including the tax implications and what your financial future might look like. We also work closely with specialist partners who can offer advice on the business sale itself and how best to structure the deal.
Our insights
Where to start
Request a callback
To discover how our expert estate planning services can help you secure your legacy, contact us today for a complimentary consultation.
Get in touch
Call us on 020 7659 5881 or email us at [email protected]
