All too often, people put off estate planning. This is understandable as, rather than preparing for the here and now, it requires you to consider what will happen when your life is over, hardly something most of us rush to contemplate.
Consequently, estate planning often becomes, and all too often remains, a do-it-tomorrow task. When it could suddenly become all-important it might be too late. After all, accidents and sudden illnesses – such as Covid-19 – can and do happen.
This guide will help you prepare effective plans that will help ensure you control what happens to your estate.
This guide covers the following areas:
- YOUR WILL
Making a will is the essential first step of an effective estate plan
- LASTING POWERS OF ATTORNEY
How establishing LPAs can make things simpler for your loved ones
- HOW INHERITANCE TAX WORKS
Navigating the complex rules surrounding inheritance tax
- MAKING YOUR PLAN
The core elements of an effective estate plan
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This publication is for general information and is not intended to be advice to any specific person. You are recommended to seek competent professional advice before taking or refraining from taking any action on the basis of the contents of this publication. The Financial Conduct Authority does not regulate tax advice.