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I have been doing more and more work around tax and trust planning recently, so a few months ago I set up a new company called MFP Trusts Services Limited.  In a nutshell, this means we can now arrange solicitor-written wills and trusts.

The need for advice

I wrote last month that only 1 in 3 people have a will, and that in 50% of intestate cases last year the widow or widower did not receive their late partner’s full estate.  There is a clear need for basic estate planning, but there is also great need for more complex solutions too.  Tax planning and trusts go hand in hand, so being able to offer trust solutions through my new company means we can deliver a truly comprehensive financial planning service.

Contrary to common belief, trusts are not set up only by wealthy families or for the avoidance of tax but are instead used by many people who wish to transfer assets out of their estate, but do not want to make gifts outright.

Our new trusts business MFP Wealth ManagementSimple steps

Take your pension death in service benefits for example.  If written in to trust, these benefits will sit outside of your estate on death and so avoid inheritance tax.  A simple step, but one that many people aren’t made aware of, so never take.

So give me a call if you would like to chat about your estate and legacy planning.

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