You can’t guarantee that everything will automatically go to your children and grandchildren when you pass away. Bloodline planning involves strategic use of trusts – securing your assets so they always go to the right people once you’re gone.
things to think about….
the importance of bloodline planning
Bloodline planning is the process of passing on assets to the right people and minimising the amount of money lost along the way.
Failing to take advantage of asset planning options puts your assets at risk of being distributed incorrectly, whilst also turning the taxman’s head (who may ask for a large sum).
Yes, but problems may arise. Without professional legal support, the wording of your Will may mean that your children/grandchildren don’t receive absolutely everything you want them to.
For complete reassurance, you need to map out all your asset inheritance plans and follow the right legal procedures. Otherwise, your assets could end up in the hands of a complete stranger.
bloodline planning options
Some estate planning can be made whilst you are alive. Assets could potentially be gifted to beneficiaries before your death.
This could prove extremely efficient in terms of inheritance tax, as assets gifted away, for example, are fully outside of the donor’s estate for 7 subsequent years.
Always. Trusts keep you in full control when it comes to asset distribution.
Gift trusts, for example, let you give assets to your children/grandchildren in the form of gifts whenever you desire, offering maximum tax inheritance benefits.
how forethought can help
There all types of different trusts ready to take advantage of. These include:
- Gift trusts
- Discretionary trusts
- Life interest trusts
- Interest in possession trusts
Every trust has something different to offer, benefitting particular people in specific
We’ll point you towards the best possible trust depending on the assets you have to hand and how you’d like them to be passed along.
Give us a call today on 01565 656 619 to find out more.
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