Estate Planning is one of the most important things you can do as you approach later life. In this article we will help you get things right and explain:
- What is inheritance tax
- What is estate planning
- Why it is important and what it involves
- How to get help with your estate planning
A bit of background
For many approaching later life, concern over the impact inheritance tax may have on their relatives is a very real and important issue.
Estate planning provides a viable and sound way to prepare your finances to ensure that your assets are protected for your loved ones once you’re gone.
Estate planning also helps you to avoid or reduce the amount of inheritance tax you’ll pay.
There are other benefits to estate planning and consideration of later life finance – such as arranging a watertight will. understanding and outlining your wishes, making funeral plans and obtaining a clear and comprehensive view of your assets.
At Home Owners Advice Limited we’re committed to providing sound, clear advice for individuals and their families who are considering later life finance and the costs of care provision.
Here we explain how to prepare your finances in order to achieve the best possible outcome for you and your family after you pass away, and why estate planning and forward thinking are important as you approach later life.