Estate Planning

Planning ahead to mitigate inheritance tax (IHT) and simplify your estate is the ultimate financial strategy. Long term care costs and your later life expenses have serious financial implications and can eat into large portions of your hard-earned family wealth. With careful planning you can protect against any predatory taxes or charges which can affect your income and generational inheritance. This can help bolster your later life retirement and ensure you pass on any wealth that you feel should be passed down. Inheritance tax planning includes methods such as trust planning, gifting, the use of business property relief, life insurance, making a will.

Some of the products available in the market can be confusing and complex. Business Property Relief (BPR) could be considered, as an investment incentive that encourages you to invest into growing companies and can be an attractive way to reduce an inheritance tax liability as it offers a faster inheritance tax exemption than putting assets in trusts or making a gift.

A trust is legal entity or arrangement whereby a person (trustee) holds property as a nominal owner for the good or benefit of one or more beneficiaries. Trust planning can be set up during your lifetime or upon death. Trusts can help to avoid the need for probate, preserve wealth for generations and of course save tax. At Romilly Financial we have experts in trust planning who are on hand to assist you in looking to the future. We are affiliate members of STEP (society of trusts and estate planning) and work closely with legal professionals in preserving your wealth.

All areas of estate planning should be considered, and a bespoke plan should be carefully considered. 

As part of our business advice strategy, we are happy to recommend known and trusted professional connections to you for will writing and finalising a lasting power of attorney. 

STEP is a global professional body, comprising lawyers, accountants, trustees and other practitioners that help families plan for their futures. Full STEP members, known as TEPs, are internationally recognised as experts in their field, with proven qualifications and experience.

Testimonials

  • I came into inherited for which I required advice for investment. Marcus talked me through the possibilities and explained why he recommended a particular course of action. I am confident that the investments will - or should - result in a worthwhile return. Nothing of course is guaranteed, but judicious selection, along with a spread of investments should give a reasonable degree of security

  • With retirement only a short number of days away it was time to review my investment plans and pension options. Marcus provided an investment plan more suited to my needs that current and continues to look for the best pension options for my future plans and needs.

  • Having recently retired, Dave advised me on the best way to maximise my pension income. Dave was knowledgeable, informative & instilled confidence. Dave was helpful. Professional & instilled confidence.

  • Recommendation from a friend. Mr Stealey had consistently provided a financial service of distinction. His years of experience and depth of knowledge has been called upon by myself on a number occasions. Each time I have found the service provided not only highly professional but tailored specifically to my financial needs. Romilly Financial has recently been of great assistance in a recent buy-to-let venture offering a highly personal service, to the extent of visiting me in my home in order to expedite a mortgage application.

  • We needed a financial planner for our limited business. Dave is brilliant, he know his stuff but explains everything in a way that someone not financial literate can understand. He's friendly but professional and keeps things straightforward and simple.