Hogarth Wealth Management
Estate Planning in Middlesbrough
Here at Hogarth Wealth Management, we offer estate planning in Hartlepool and across the surrounding areas. Estate planning is the process of a person arranging what will happen to their estate upon their death or if they become incapacitated in any other way. As estate planning specialists in Hartlepool, we can provide advice and practical support in the financial elements involved to ensure your estate is distributed the way you want it to be. When you choose us for estate planning in Hartlepool, we will work closely with you and your solicitor to ensure all of the estate is accounted for, plans are in place for distribution and that inheritance tax is also managed fairly. We are committed to providing a professional and transparent service and it's our aim to put in place the most effective plan for the size of your estate and its assets.
Ensuring Your Future Affairs Are Take Care Of
Inheritance Tax and Estate Planning Middlesbrough
The key to estate planning is to understand the full value of your estate, the nature of those assets on death and how you would like the proceeds divided between your loved ones, wider family, friends and charity. Certain assets such as commercial property, farmland, private company and some AIM listed shares attract valuable tax reliefs. You need to think carefully about whom you leave these assets to on your death, if you wish to minimise any future inheritance tax that may become payable. There are also ways of writing your will to leave some monies to charity and thereby pay a lower rate of inheritance tax. When you are living with someone to whom you are neither married nor in a civil partnership it is even more important to write a will.
The laws within England and Wales do not currently recognise such "common law" relationships and so there can be some unintended consequences. It also gets complicated with children from more than one relationship, both in terms of guardianship and financial provision. Outside of wills you should update your "expression of wishes" on your pensions and company death in service plans. Most modern pension plans have flexible death benefit options and no tax payable where the member dies before age 75. But older pension plans often payout a lump sum to the widow(er) which then forms part of their estate and potentially subject to future inheritance tax. We check all our clients plans for such details and recommend replacements where that will be in your best interest.
The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief is generally dependent on individual circumstances.
The writing of a Will involves the referral to a service that is separate and distinct to those offered by St. James’s Place. Wills and Trusts are not regulated by the Financial Conduct Authority.
Offering Inheritance Tax and Estate Planning Services in Middlesbrough
We offer a comprehensive range of estate planning services to our clients based in and around the Middlesbrough area. It's our aim to ensure your wealth is protected for both you and your family and we will ensure everything is structured in a way you can understand and that everyone is provided for in the future as well. Some of the estate plan services we offer to our clients across Middlesbrough are:
- Wealth Management and Distribution
- Succession Planning
- Inheritance Tax Planning
- Trust Funds
- Much More…
Our estate planning service is not just about reducing tax, it's there to give you and your family peace of mind that everything will be taken care of should anything happen to yourself. Should you require more information on our Middlesbrough estate planning service or if you'd like to book an appointment, then please don't hesitate to contact us.*
Wills and Trusts are not regulated by the Financial Conduct Authority.
Benefits of Effective Estate Plans
As one of the leading estate planning firms in Middlesbrough, we are passionate about estate planning and we are firm believers that everyone should have an effective plan in place. Estate plans offers a great number of number of benefits, some of which are:
- Your gain a greater understanding of the true value of your estate
- It allows your loved ones to better plan for their own futures
- You can calculate your future income and balance it against what you're wanting to leave
- It can help to minimise the impact of inheritance tax
- You might discover assets or funds that can be used to support your loved ones now
Estate Planning Middlesbrough
Frequently Asked Questions
Estate planning is when you put together a clear plan of your wishes for your estate. No matter how small or large an estate is, it's recommended that an estate plan is in place to ensure your assets or succession is carried out to your wishes. Estate planning can come into place upon your death or if you become incapaciated in a way in which, you can no longer take responsibility for your own estate.
Wills are typically part of the estate planning process, however estate planning is a much more comprehensive service. Estate planning consists of many different types of documentation that are designed to protect you, your property or your business should you suffer from loss of capacity or death.
We firmly believe everyone should have an estate plan, no matter how old or young you might be. Estate planning is there to take the headache and hassle away from splitting of assets. It will ensure everyone is taken care of as per your wishes and that your estate is correctly managed upon your passing.
Estate planning is a comprehensive and complex service and we will aim to break it down into the important things it covers. Our estate plan service covers things such as estimating what assets you have, accounting for any liabilities, succession plans and a number of other things. The main aim is to ensure the estate is distributed in line with your wishes and that all of the necessary documentation is in place to do so.
If you'd like to book an appointment with our estate planner to discuss estate planning for yourself or your business, then you can contact us through our website, email or directly by phone.
Hogarth Wealth Management - Creating Fair and Effective Estate Plans for Clients in Middlesbrough.
