We are often consulted by parents or grandparents who want to provide for the younger generations of their family in the most effective way.
All too often, the advice they have received from other professionals was simple and generic: “give away as much as you can, then hope to live for seven years”.
At Monan Gozzett Solicitors, we take a holistic approach, starting with a detailed discussion of your personal circumstances:
- We take time to listen to your wishes and feelings for yourself and your family.
- We discuss your family as individuals, not just entries on a family tree, helping us to build a picture of family dynamics and likely future needs.
- We consider with you if there are any grounds for concern, such as the stability of relationships, financial immaturity, and the future management of any family businesses.
- We analyse the constituent parts of your estate, as the opportunities available differ depending on the types of assets that you own.
Help With Your Estate Planning
To provide a complete service, we will also discuss if there have been any recent bereavements.
One of the most effective inter-generational estate planning opportunities arises when someone dies.
This is known as a post-death variation.
It involves re-directing some or all of your inheritance to the next generation as if it was given to them in the deceased’s Will.
Following our detailed discussion, we use our expertise and extensive experience to provide estate planning advice that is tailored to you.
As well as options to reduce Inheritance Tax, we consider wider issues such as asset protection, care home fees, and maintaining your standard of living.
Our holistic approach means that we do not just consider you and your estate in isolation. We will also suggest steps other family members can take to maximise the estate planning opportunities available to the family.
We will then use a range of legal tools to achieve the best outcomes for you and your family. This may include Wills, Trusts, and Deeds of Gift. Where pensions, insurance policies and investments are recommended, we will liaise with your own financial adviser or recommend one with appropriate expertise.
Regrettably, the finest estate planning can be undone if the younger generations do not understand it.
With your consent, we will happily meet with other family members to explain the solutions we have created for you and discuss any steps they may need to take now or in the future.
Contact Our Team For Help With Your Estate Planning
Our personal care does not end there.
We will be happy to advise you and your family over the decades to come.
We will always be on hand to assist you and your family, the trustees of a trust you have created, and your executors after you have passed away. Where it is appropriate, Monan Gozzett Solicitors can act as trustees to manage any trust you create, whether alone or with family members.
If you would like to explore the estate planning opportunities available for you and your family, please contact us to arrange an appointment.