An Estate Planning meeting is a comprehensive process that helps you plan your affairs for both your lifetime and after your death. It ensures that your wishes are respected, your loved ones are provided for, and your assets are dealt with in the most tax-efficient way possible.
This meeting typically covers several key areas, including:
- Reviewing any existing Wills and discussing the creation of a new, tax-efficient Will, ensuring up to date powers and provisions are included.
- Inheritance tax planning options to minimise potential liabilities and maximise reliefs both during your lifetime and after your death.
- Discussing Lasting Powers of Attorney which allow trusted individuals to make decisions and manage your affairs on your behalf if you become unable to do so.
We also address the possibility of any potential claims against your estate, helping to mitigate the impact of any claims. Ultimately, an estate planning meeting ensures that your affairs are in order, offering peace of mind for both you and your loved ones.
How does an Estate Planning meeting work?
During the meeting, we will conduct a thorough review of your personal circumstances. This includes understanding your family situation, your finances, and any business or agricultural assets you may own. We’ll take the time to discuss your specific wishes, goals, and preferences, ensuring we create a plan that’s tailored to your needs.
Following this, we will present various options and advise you on the most appropriate strategies to meet your objectives, considering any potential tax or legal implications. The goal is to help you navigate the complexities of estate planning with clarity and confidence.
What should I bring to the meeting?
To ensure we can offer the best advice possible, it’s helpful to have a clear picture of your financial situation. This includes having an idea of the value of your assets and liabilities, such as property, investments, savings, and any business or agricultural assets.
It’s also beneficial if you have a general idea of who you would like to benefit from your estate after your death, as well as any specific wishes you may have regarding the distribution of your assets.
You may also want to bring a notepad and pen to jot down any important details or action items that arise during the meeting. We want to make sure you leave with a solid understanding of the next steps in your estate planning journey.
Why does my Solicitor need to see me on my own?
In most cases, we can meet with couples together however, we cannot see you with anyone else (such as a child, sibling, or friend). This is a precaution to protect both you and them from any potential claims of undue influence or conflict of interest, which could arise if someone tries to challenge your Will in the future.
For your protection, it’s essential that we meet with you privately (unless you’ve authorised us to discuss your affairs with a professional advisor such as an accountant or financial adviser). This ensures that the instructions we take are genuinely your own and free from outside pressure.
Book your Estate Planning meeting today
An Estate Planning meeting is essential for ensuring your estate passes according to your wishes and as tax-efficiently as possible.
To book your Estate Planning meeting contact the Trusts & Estates team on 01244354800 or submit an enquiry below.
