Family Wealth Transfer For Property Owners

It’s planning for you, as custodian during your lifetime, of your family’s property and real-estate assets, passing tax-efficiently to your children and loved ones when you die

It’s done by Chartered Tax Advisors and we call it Legacy Planning..

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The ultimate in sustainable property tax planning..

The goal of family legacy planning is a net-zero tax transition of your assets to the next generation of your family, simply by using rules and regulations contained in UK legislation. Legacy planning is relevant to those of us who want to pass on to our children, and to our grandchildren, the assets we have worked for in our lifetimes. Part of that planning is to reduce your families’ exposure to Inheritance Tax, but that’s only part of it..

What is legacy planning

We are talking about you, as custodian of your family’s assets, during your lifetime

Legacy planning is about creating a succession plan to aim to pass your assets, likely your business and real-estate, intact to your children and grandchildren

It’s about creating a strategy for family members to follow. With time, the strategy becomes a duty imposed upon successive generations and provides confidence that family wealth will endure. United in purpose, bonded in perpetuity

It’s not about thinking ‘what’s in it for me?’ It’s entirely about ‘how do I achieve this for my family?’

Time is like a river, you cannot touch the same water twice

It all starts with your Will, which is the document by which you state what you want to happen to your assets when you die.

You could aim to pass assets directly to, say, your son and daughter but, at best, that just kicks the can down the road, and they’re left with solving the same problem in future.

Then there are tax issues to consider. Ah, those pesky tax rules!

A better solution may be to create a trust, and have your children as beneficiaries.

Bloodline Planning Strategies

Cluster luck

It’s not new, it’s what the great aristocratic families have been doing for centuries, and all of the good bits of that planning can be applied to you and your family. The numbers might be smaller, but most everything else is the same.

Some assets lend themselves better to this process than others, and businesses and real-estate are perhaps the best categories of all.

Your legacy will be achieved by planning those assets in a tax-efficient way, so that they survive you, for the benefit of your family.

Proper legacy planning may provide palatable answers to the 3 questions you’re likely already asking yourself:

Yes, creating a ‘relevant property trust’ allows you to keep control. The trust deed sets out exactly what the trustees can and cannot do, so you lose ownership, but not control

No, there should be no Capital Gains Tax (CGT) to pay at the time of transfer on chargeable assets, as ‘rollover-relief’ means that the trustees take over the property at its original cost. CGT is deferred until the property is sold, and that day may never come

Yes, use of trust planning may be effective if family members get divorced in future

Where there are significant potential capital gains in your property portfolio then it’s almost a no-brainer, as the capital gains may be ignored

Inheritance tax planning

Reasons to be fearful, parts one, two and three

– Ian Dury

Don’t need a weatherman to know which way the wind blows..

– Bob Dylan

Trusts have been around since the time of the Crusades and both the tax authority and the tax profession knows them well. A track record of almost 750 years and still effective today


Creating and implementing the right kind of trust, with all the rules and regulations met, and tailored to the exact circumstances of your family, requires experienced experts..

The best way to predict your future, is to create it

– Abraham Lincoln

Take control of your life or life will take control of you. Doing nothing is the worst strategy of all and, likely, benefits HMRC most

If you’re paying more than lip-service to ‘my family is my priority’ then it’s straightforward to create a family legacy, by way of a trust..

Love Is In The Heir..

Done properly, we create it, with your rules, to pass your legacy and your lifetime’s work, to future generations of your family

A well thought out and executed legacy plan can have a tremendous influence on family harmony..

..and the forests will echo with laughter..

Jimmy Page & Robert Plant

Planning your living legacy will take work and effort on your part, but when you know the process, starting with the end in mind, then we can reverse engineer the exact steps to produce the perfect inter-generational plan for your family, with everything in one place

Legacy planning is the best gift you can give your family..

What our clients say

Mattis

In almost twenty years of working for us they have acted with honesty and integrity as one of our trusted advisers. We are always treated as important and nothing is too much trouble

John Reilly, Managing Director, John Reilly (Civil Engineering) Ltd
5/5

Clients we work with

Next steps

Here’s What You Likely Will Do:

Jump back on Google, search ‘Legacy Planning’ or ‘Inheritance Tax Planning’, procrastinate, get busy, get side-tracked, do the square root of not much, and hope your existing advisor gets cleverer before you die..

Here’s what you must do:

Listen, really listen, to Stairway to Heaven by Led Zeppelin HERE then..

Book a FREE legacy planning hour, directly with the piper, right NOW

Remember:
The Will of one affects the lives of many