Death, marriage and taxes were all topics covered by Higgs & Sons' wealth planning expert, Peter Gosling in a talk given to delegates at a financial planning seminar earlier this month.
Investments and Inheritance - The Bigger Picture organised by NFU Mutual Stone at Sandon Hall in Stafford was run in partnership with Higgs & Sons and Fisher German, Property Consultants.
The theme of Peter Gosling's presentation was Wills and the Use of Discretionary Will Trusts. His talk highlighted the importance of forward planning when it comes to long term wealth protection.
"There are several tools available to individuals that they should be utilising in order to protect their wealth now and, just as importantly, for future generations," comments Peter, a partner in Higgs & Sons' Private Client department.
"It is essential that individuals seek out expert advice at the earliest opportunity so that they can plan ahead and ensure their hard earned wealth is not adversely affected by excessive taxes, poor succession planning or a messy and potentially expensive relationship break down.
"A good adviser will recommend the best way to mitigate against these circumstances and provide on-going support and advice as situations change over time. Estate planning is not just about reducing inheritance tax; it is also about leaving your assets to those that matter to you in the most effective way."
Peter's presentation explained that effective estate planning should take account of a broad range of factors including:
- maintaining suitable access to income and capital
- tax efficiency
- protection of the assets from divorce, bankruptcy and other threats
- protection from irresponsible beneficiaries and malign influences
- providing for vulnerable or minor beneficiaries.
Peter concludes: "They say death and taxes are the only certainties in life. But when it comes to financial management, forward planning is the most certain way to protect wealth now and for future generations."
Peter is an expert in all aspects of wealth protection and acts for many families and trusts, along with a number of high net worth individuals, many with owner managed businesses and agricultural interests. He has extensive experience of working with other professional advisers in matters of tax and estate planning. Peter is a member of STEP, Solicitors for the Elderly and the Law Society Private Client Section.
Contact Peter Gosling on 01384 327215 or via peter.gosling@higgsandsons.co.uk
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