Estate planning Protecting the financial future of the ones you love Inheritance tax planning (IHT) Without proper financial planning, the harsh reality is that HM Revenue & Customs could become the largest beneficiary of your estate following your death. Wills, trusts & powers of attorney Wills, trusts and lasting powers of attorney (LPAs) are the foundation of all inheritance and estate planning as they allow you to effectively plan your financial legacy. Long-term care Did you know that if you have assets of more than £23,250 (in England and Northern Ireland), £30,000 (Wales) and £26,250 (Scotland) you would not be entitled to financial assistance from your local authority towards your care fees? As we continue to live longer lives, the cost of long-term care is something we should all be thinking about. Professional financial advice can help you make provisions for your care costs in later life. Sharing your wealth with loved ones You don’t need to wait until after you have gone to share your wealth with your loved ones. You may want to help parents with their long-term care costs, support a child with a deposit for their first home or pay the education fees for a grandchild. Individuals are entitled to give away £3,000 in total, each tax year, free from inheritance tax. This allowance can be backdated by one year, so where the full £3,000 is not used, it can be carried forward to the next tax year. Estate and inheritance planning that gives you financial control Estate or inheritance (IHT) planning is the process of protecting your wealth after you have gone and ensuring you retain control over how your assets are distributed. Your inheritance and estate plan should include everything of value to you, your home, car and jewellery, as well as your savings and investments and most importantly your family. Estate planning covers: Managing your tax obligations Putting a comprehensive will in place that reflects your wishes Creating a long-term care plan to provide for your future needs Safeguarding the financial stability of your loved ones Estate planning - your key questions, answered Is estate planning relevant to me? Can a financial gift to a loved one be exempt from IHT? Do I need a power of attorney? What are the tax implications of trusts? Preserving your wealth for future generations Inheritance can be an extremely complex and emotive area, but advanced planning and independent financial advice can help you leave a legacy for future generations. We all have one thing in common: we can’t take our assets with us when we die. If you want to ensure that your wealth is preserved for future generations and passed on efficiently, an estate plan is crucial. To discuss your situation, please contact us for more information. We're local to you With over 40 locations nationwide we strive to provide local, face to face advice to over 70,000 clients. Chartered and Defaqto status Fairstone is proud to incorporate one of the UK's largest Chartered financial planning firms as well as our managed investment portfolio's being Defaqto 5-star rated for six consecutive years. Committed to quality Don't just take our word for it. Our clients have, and continue to rate us 5 stars on Truspilot with over 5,000 reviews. Match me to an adviser Matching you with the right local adviser for your needs We have over 650 local advisers specialising in investment advice all the way through to retirement planning. Provide some basic details through our quick and easy to use online tool, and we’ll provide you with the perfect match. Match me to an adviser Fairstone Group Ltd are trustees of the Fairstone Foundation – registered charity number 1121478 © Copyright 2021 Fairstone Group. All rights reserved. Fairstone Financial Management Ltd. is authorised and regulated by the Financial Conduct Authority (FRN: 475973) Fairstone Wealth Management Ltd. Is authorised and regulated by the Financial Conduct Authority (FRN: 188596) Fairstone Private Wealth Ltd. is authorised and regulated by the Financial Conduct Authority (FRN: 457558) Fairstone Mortgage Solutions Ltd. is authorised and regulated by the Financial Conduct Authority (FRN:655072) All are part of the Fairstone group of companies. Registered in England. Registered Address: 1 the Bulrushes, Woodstock Way, Boldon Business park, Tyne & Wear NE35 9PF Keep up to date with Fairstone by subscribing to Intelligent Wealth, our FREE bi-monthly magazine ✔ I am happy to receive updates from Fairstone that may include newsletters, topical guides, financial insights and company news and events Privacy Policy How to make a complaint Modern Slavery Act Transparency Statement FCA Register Fairstone Group Fairstone Private Wealth Gender Pay Gap Careers We use cookies on this site to enhance your user experience. Further information can be found in our Privacy Policy. To agree to the use of cookies please click the button. OK, I agree