Most of us have heard the old idiom “the only certainties in life are death and taxes”; but while most of us deal with our taxes, not many people prepare properly for their death.
Nobody likes to think about their will or planning their estate too much, but proper preparation for the future is necessary to ensure that when you die, your estate is administered according to your wishes.
Our estate planning solicitors can assist you with putting a succession plan in place that makes the transition easy not only for yourself but also for your family or employees and minimises the chances of the business or farm having to be sold up when you leave.
Estate planning goes beyond drafting a will – it includes:
- The assessment of assets
- The assessment of likely taxation
- Advice regarding the possibility of claims against the estate by third parties
- The protection of assets
Estate planning is an active process of re-evaluating the estate when circumstances in life change, such as:
- Newly married couples or those divorcing
- A change to the family’s asset pool
- A change in working conditions such as the buying or selling of a business
- Changes to superannuation, insurance policies or taxation levels
- The establishment of discretionary trusts
A successful plan is made involving all family members as it will take into account not only provisions for your retirement income but also the plans, aptitudes and existing assets of younger generations.
Contact us to find out more or to arrange a consultation with one of our experienced estate planning lawyers across East Sussex in Eastbourne, Brighton and Uckfield.