Asset Protection

With the changes in Inheritance Tax to allow both partners to a marriage, or civil partnership, to keep their Nil-Rate allowance it may be considered that Wills should be straight-forward.

However, there are many instances where it is essential to carry out detailed Estate Planning to ensure you achieve exactly what you wish from your Will.

A prime example is the case of second marriages where there are children from the first marriage and you wish them to inherit part, or all, of your estate on the second death of your new marriage. If all of the estate is left to the survivor on the basis that they will ensure the children from the previous marriages benefit on the second death you run the serious risk of this not happening. Many people do not realise that marriage is one way to revoke a previous Will. So, if your partner remarries after your death and does not arrange a new Will, the new spouse would inherit part, if not all, of the estate!

Our Fact Sheets Protecting Your Home and Protecting Your Family cover many aspects but these are only relevant if your main, or only, asset is the family home. If there are other assets, or the family home is only in one name, these options will not work

The action you take to avoid this will depend upon your particular circumstances and wishes. If you complete our Fact Find and email to us we can advise on what you should consider.

For further advice please feel free to contact us.