Estate Planning | Finsso Financial

Why use us?

It is our primary aim to provide you with a highly professional friendly service. We like to build long term relationships with all of our clients.

We are happy to visit you in your own home to discuss all your requirements and evening visits are not a problem.

We specialise in inheritance tax and long term care planning. Inheritance Tax is affecting many more of us today than it has in the past, and writing a will can reduce the tax you may have to pay.

All of our services are often more convenient than some other providers and are often at a much lower cost

Make an Enquiry Today

Our Estate Planning Services

We advice and support the following estate planning services:

Wills and Will drafting
Tax advice relating to the preparation of a Will or advice to your client concerning the use of trusts
Will trusts
Codicils
Advance directives
Powers of Attorney
Severance of joint tenancy
Document storage
Funeral planning
Pilot trusts, Property trusts, Family trusts
Agricultural property
Business Property
Inheritance Tax (IHT) Planning

Will Writing

Around 70% of the population does not have a will, leaving a very uncertain future for their families

It is commonly believed that husbands and wives are automatically entitled to inherit everything from each other, but this is not the case. Dying without a will means your possessions will be distributed according to the laws of intestacy.

Having a Will is the only way to have a full say in how your money, property and belongings are shared out and how your affairs are handled when you die.

Making a will ensures your hard earned possessions will go to those whom you want to benefit from them. A well drafted will can also help ease the burden of care fees and help mitigate Inheritance Tax.

We offer a straight forward Will writing service and offer extensive expert help and support. Your Will is drafted and checked by experts – so you can be confident it’s correct and legally binding.

TRUSTS

There are many occasion where trusts should be included - this is usually to ensure that family is well provided for or to mitigate inheritance tax or care fees. Here are some typical trusts which may be used.

Life Interest Trust

This trust is usually used to ensure that a partner or spouse from a later relationship will not be deprived of a place to live, but ensuring that your children from a previous relationship do not lose their inheritance if your surviving partner/spouse is involved in a new relationship after your death.

Right of Occupation Trust

This is similar to the life interest trust above in that they can protect assets from creditors and being passed to someone you do not want it to pass to. However the difference is that once the right to occupy the property ends, e.g. the surviving partner/spouse remarries, the trust ends, and the beneficiary has a vested interest at that point.

Discretionary Trust

Sometimes certain circumstances mat make it difficult to ascertain how much money a beneficiary is going to need and when they are going to need it. This is particularly true when making provision for children or dependent relatives. This trust gives the Trustees to power to give varying amounts of money to a beneficiary as and when they need it.

Family Protection Trust

A Family Protection Trust is like your own personal safety deposit box. It is used in conjunction with your will and helps ensure your families future inheritance is preserved for their benefit.
It Eliminate/reduce probate fees, delay and administration
It Make sure that your loved ones inherit at the right time for them
Avoid passing Inheritance Tax to your children
Avoid the possibility of disinheritance de to 2nd marriages
Avoid certain legal clams on your estate by family you wish to disinherit.

Lasting Power of Attorney

Lasting Power of Attorney is where you give someone you trust the ability to make important decisions on your behalf.

Lasting Power of Attorney is where you give someone you trust the ability to make important decisions on your behalf. They will have legal authority to handle your affairs, together with guidance and instructions on how they should act.

You can prepare LPA’s for Financial and Property, and/or Health and Welfare which is making decisions on your medical treatment.

Health and welfare lasting power of attorney

This allows you to choose one person or more to make decisions about things like your daily routine e.g. eating and what to wear, medical care, moving into a care home and life-sustaining treatment
This type of lasting power of attorney can only be used when you’re unable to make your own decisions.

Property and financial affairs lasting power of attorney

This lets you choose one person or more to make decisions about money and property for you, e.g. paying bills, collecting benefits and selling your home. This type of lasting power of attorney can be used as soon as it’s registered, with your permission.
Arranging these before you lose capacity can save hundreds of pounds, and ensure that you choose someone you trust to make decision for you. Someone with the same mindset as you which is very important, particularly when it comes to end of life care.

Wills & Estate Planning