Estate Planning and Inheritance Tax

Preserving Wealth and Minimizing Taxation

Estate planning goes beyond wealth preservation; it’s about securing your legacy and minimizing the impact of inheritance taxation. Our expert advisors at Chartwell Associates understand the intricacies of tax laws and financial strategies. We work diligently to help you safeguard your assets, ensuring they pass on to your loved ones while minimizing the burden of taxation. With our guidance, you can build a comprehensive plan that protects your wealth and eases the transition to the next generation.

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Comprehensive Estate Planning

Estate planning is an ongoing process and should be started as soon as one has any measurable asset base. As life progresses and goals shift, the estate plan should move to be in line with new goals. Lack of adequate estate planning can cause undue financial burdens to loved ones (estate taxes can run higher than 40%), so at the very least a will should be set up even if the taxable estate is not large.

Securing Your Legacy

Estate planning involves critical tasks that encompass creating a will, designating guardians for dependents, appointing an executor, updating beneficiaries, arranging funerals, establishing power of attorney for mental incapacity, implementing annual gifting strategies, and minimizing estate taxes through trust accounts. These measures ensure a well-structured and tax-efficient transfer of assets, preserving your legacy for generations to come.

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Navigating UK Inheritance Tax as a British Expat

For British expatriates, estate planning is paramount. Achieving UK non-resident status might seem like a tax haven, but when it comes to UK inheritance tax (IHT), domiciled status matters. Even expats often fall under its purview. Upon passing away, regardless of residence, the UK levies IHT at 40% on your worldwide estate exceeding £325,000, including property and assets in the UK and abroad. Expert guidance is essential to implement effective financial strategies that can mitigate your IHT liability. Discover more about Estate Planning and assess your Inheritance Tax Liability with our experienced advisors.