Clients discover how to control their assets beyond the grave

How  to make the most of your assets and ensure that it’s your family and not the government that benefit from them was the subject of a special seminar for Barr Ellison clients held at Jesus College last month.

Held in conjunction with independent financial advisers 35 Finance Ltd and investment managers Rathbones ‘Controlling Your Assets Beyond the Grave’ was an opportunity to discover more about Wills, Estates and Inheritance Tax issues.

“Who would you like to inherit your estate – your loved ones or the government?” asked Barr Ellison’s Judith Greensitt, who warned people not to assume that assets will automatically pass to loved ones and to plan ahead to avoid a large bill for inheritance tax. Gifts and trusts offer ways of reducing the tax burden and can protect against potential care home fees. Referring to the title of the seminar it is, she said, possible to vary the terms of a Will even after death. But it’s also important to remember to keep your Will updated to take into account any changes in your circumstances, for example marriage or divorce. Please view Judith’s presentation for further information.

Before taking out a gift or a trust it’s important to analyse your income and outgoings said Jeremy Davis of 35 Finance Limited. The options available include various gifts and trusts which avoid probate. Of particular interest to entrepreneurs is Business Property Relief. The government wants to ensure wealth in businesses is not caught by Inheritance Tax and this opens opportunities for business owners. Please view Jeremy’s presentation for further information.

Chris Day and Mark Winchester of Rathbones, who work closely with Jeremy in looking after clients’ portfolios, talked about the management of assets for the next generation. Chris indicated that Rathbones was looking to establish lasting relationships with clients and their families while Mark gave details of the management of portfolios taking account of individual requirements in terms of diversification and the need for such a portfolio to be balanced to provide capital growth and income. Please view Rathbones’ presentation for further information.

Anyone who missed the seminar and would like to know more can contact Judith Greensitt or her colleagues Peter Ayling and Francis Durrant on 01223 417200, Jeremy Davis on 01223 351856 or Rathbones on 01223 345370.

The information given in this article is of a general nature only and should not be considered as advice applicable to any particular situation for which specific request should be made to us.

"I have found all aspects of the Probate Team to be excellent - the staff have been highly efficient and friendly."
Mrs Joyce Kirk of Cambridge

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