Last Wednesday (23rd September, 2015) saw our Team gather together with an audience of around 40 guests at Quorn Country Hotel to consider how to ‘Protect your Legacy’.
Over the course of the morning Nelissa explained why it’s so important to make a Will, Rebecca told us how Inheritance Tax works, how much you’re likely to pay, and various ideas for how to avoid it.
Richard went on to explain how valuable tax reliefs can help reduce your IHT bill, especially in the area of Business Property Relief. Dave went on to cover a range of planning possibilities using trusts to reduce your tax whilst still keeping control over your cash.
We asked the attendees how useful they found the Seminar, and the praise was high. They told us that the morning had been clear and informative, and had given them a new insight into planning for the future. There was also a wide appreciation that everyone’s circumstances are different, and that there is no single solution that works for everyone. You can view some of their comments in this short video.
The final session of the morning gathered a number of the ideas together in the form of a ‘real-life’ case study, the story of one particular Chesterton House client with a long relationship with the firm. Richard and Rebecca explained how, using a combination of financial planning, investing and legal strategies it had been possible to reduce this couple’s eventual tax bill to a tiny fraction of the amount that would have been payable without taking any action, whilst still ensuring that there were ample funds to pay for the care and support that was required for several years towards the end of their lives.
The case study was a great example of how a long-term professional relationship, focused on a person’s needs, goals and objectives, implemented and adjusted regularly over the years as those needs and circumstances change, can bring not only great peace of mind but also real financial benefit. It also highlighted the advantage of financial, legal and accounting professionals working together to get the best outcome for clients – a hallmark of our service at Chesterton House.
If these are topics in which you have an interest, you can start by having a word with our Team. They would be very pleased to discuss your situation with you.