December – the time of year that many of us are running around the shops, desperately trying to think of the perfect present for friends and family.
Whilst smellies and slippers are lovely to have, perhaps a more worthwhile present this Christmas would be some estate planning for your family.
Death might not be the cheeriest thing to be thinking about over the festive season, but as you think about providing for your nearest and dearest, perhaps set a reminder for January to think about how to maximise your estate for your next of kin.
Planning for what will happen after your death, may not be the most pleasant of activities, but it could make your loved ones’ lives easier after you’ve gone.
Putting down into words what you want to happen after your death, can really help your loved ones to know exactly what you wanted.
There are also ways to plan inheritance tax-efficiently which could reduce your family’s exposure to tax liabilities.
And you can review the value of your estate and set the necessary structures in place to plan for this.
For example if you record all of the gifts you have given in the last seven years it may help you pay less tax on your estate.
You may also want to think about how your estate might be distributed in the event of your death, and you may wish to put some of your money in trust.
At Amethyst we can help you with an estate plan to set up how you want to distribute everything you own and can help you select the most appropriate trust for your beneficiaries.
So why not get in touch, and make your New Year’s Resolution to ensure that you leave your affairs in order.