Does your estate planning pass the test?

Check if your estate is protected from the tax man.

At Aequitas we can help people in the Pinner area with inheritance tax planning and estate planning. Here are some useful pointers...

It is never too early to plan your estate. If it is large, it could be exposed to inheritance tax at 40%, and if it is small, advance planning can help you ensure that your assets will go to your chosen beneficiaries.

Making a Will

Estate planning begins with the following decisions:

Who will inherit your assets?
When should the recipients receive them?
What limitations will be placed on the recipients?

A Will should also stipulate who is to be your minor child(ren)'s guardian. Although making a Will makes your decision legally binding, the Will can be amended any time you change your mind.

Where should you begin?

Start by completing the following survey. Every 'no' answer indicates an area where estate planning issues should be addressed.

Will survey	Yes	No
Have you made a Will?
Has your Will been safely lodged so that others can access it after your death?
Does your Will name a guardian for your children if both you and your partner die while they are still in their minority?
Have you considered how to fund the inheritance tax liability?
If you die suddenly, will your executors be able to locate all your records easily?
Do you have medium-term and long-term financial objectives?
Do you know the present value of your estate?
Are you comfortable with the executor(s) and trustees you have selected?
Have you arranged your affairs to take advantage of the NIL rate band, Residence Nil Rate Band, Reliefs and the inheritance tax exemptions?
Are you sure you have the right type and amount of life assurance?
Have you considered a trust to prevent assurance proceeds from being taxed as part of your estate?
Have you considered making gifts to family members that take advantage of the inheritance tax and capital gains tax exemptions and reliefs?
Are you sure your estate plan is up-to-date and takes into account all your personal wishes and all your potential tax saving strategies?
Have you considered how inheritance tax will affect your business?
Do you know what will happen to your business if you die?
Do you know that business assets can be given away without your having to pay capital gains tax?
Do you know how to give away business assets free of inheritance tax?
Have you considered the use of trusts in estate planning?
Do you know the intentions of relatives with substantial estates?

SEEK OUR ADVICE FOR EVERY 'NO' ANSWER

If you are in the Pinner area and would like advice on inheritance tax planning and estate planning, please contact Aequitas today. We will be delighted to assist you.

Latest News

19 May 2025

One in ten people have no cash savings

A survey carried out by the Financial Conduct Authority (FCA) has found that one in ten individuals have no cash savings at all.

16 May 2025

Parents of teens reminded to extend Child Benefit claim online

Parents of 16 to 19-year-olds will receive reminders from HMRC to extend their Child Benefit claim by 31 August if their child is staying in education or training or payments will automatically stop.

15 May 2025

UK economy grows 0.7% in first quarter

The UK's economy grew by more than expected in the first three months of the year, according to the latest data from the Office for National Statistics (ONS).

14 May 2025

Entrepreneurs considering selling businesses due to tax changes

British entrepreneurs are considering selling their businesses as a result of changes to tax policy and ongoing economic uncertainty.

13 May 2025

One in four employers plan to make redundancies in next quarter

The number of employers expecting to increase staff numbers in the next three months has fallen to a record low outside of the pandemic, according to research from the Chartered Institute of Personnel and Development (CIPD).

12 May 2025

Record numbers file assessment in first week of new tax year

Almost 300,000 people filed their tax return in the first week of the new tax year, setting a new record, HMRC has revealed.

09 May 2025

Interest rates cut to 4.25%

The Bank of England has cut interest rates from 4.5% to 4.25%, the lowest rate since May 2023.

08 May 2025

HMRC criticised for delays in processing tax refunds

HMRC has come under fire for delays in processing tax refunds.

Get in touch

If you feel our services and expertise could support your business or for individuals, please call us today to book a FREE consultation.

Aequitas Accountants Ltd, Elthorne Gate, 64 High Street, Pinner, Middlesex HA5 5QA

Call now Contact us

Accessibility links