The FCA do not regulate will writing and estate planning.

Will writing is not part of the Quilter Financial Planning offering and is offered in our own right. Quilter Financial Planning accept no responsibility for this aspect of our business.

Your estate planning - Will your estate go to the people you want it to go to? Could your beneficiaries be in for an inheritance tax shock?

There are no circumstances where you would be better off without a will.

Estate Planning involves two main objectives:

  • making sure the right people benefit from your estate and
  • you don't leave them with an unwanted tax bill.

A. The importance of a valid will

An up-to-date will is the only way you can be sure your possessions will go to the people you want them to go to. Currently, UK intestacy laws mean that, without a valid will, the government decides who benefits from your estate.

Your will also sets out your wishes for the future guardianship of your children. Without a valid will the government will decide who cares for them; this may not automatically be your partner if you are not married.

B. The arrangement of your affairs so as to minimize Inheritance tax

It's been said before that there is no need for anyone to pay inheritance tax, however for this to be true, there requires to have been prior planning. People for years have left it too late to discuss their affairs. Although currently there is no tax to pay on an estate which is under £325,000 (2020-2021 tax year) it is surprising how this figure creeps up unexpectedly. Why pay any tax if you don't have to?! There is also an Additional Residence Nil Rate Band wef 17-18 tax year increasing annually from £100,000 to the current £175,000. But careful as there are limitations on how and when this can be used. Wanting to discuss?...then contact us on 0333 666 1066 or email us (enquiries@pgml.co.uk) and we will refer to you an external professional...

Reviewing your will is therefore vital.

We can help by introducing you to external professionals to assist you to write and/or review your will.