Wills

Wills are the best-known instruments of estate planning and one of the most important. Making a Will enables you to plan exactly what will happen to your estate following your death, giving you comfort and peace of mind, and avoiding unnecessary costs and upsetting disputes amongst family members. Our Estate Planning Consultants will draft a Will based on your requirements and circumstances.

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Trusts

A Trust is a legal relationship created when you transfer assets to a group of trustees with instructions to hold the assets for the benefit of those you wish to support (eg, your family members). It’s the trustees’ duty to administer the assets in the best interests of the beneficiaries and, because the assets are now owned by the trustees, it is less likely that any claims can be made against them.

The longer a Trust is in place the more secure it becomes. However, it is important to note that not all Trusts will take assets out of your estate for Inheritance Tax purposes. This can be discussed in more detail with the Estate Planning Consultant.

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Lasting Power of Attorney

There may come a time when you are unable to manage your financial affairs or personal welfare, perhaps through some form of incapacity, and you need someone to act on your behalf. Appointing a friend, relative or professional in advance as a trusted Attorney ensures you can rest assured your finances and welfare are looked after if the situation arose.

Quadrant Estate Planning can help set-up Lasting Powers of Attorney for Property & Affairs and/or, Health & Welfare, as well as General Powers of Attorney (England only) and Business Lasting Powers of Attorney.

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Inheritance Tax Planning

Inheritance Tax (IHT) is a tax on the estate of someone who has died. Under current legislation, there’s normally no Inheritance Tax to pay if either the value of the estate is below the current £325,000 threshold or if everything above the £325,000 threshold is left to a spouse, civil partner or exempt beneficiary such as a charity.

There are a variety of ways of reducing or mitigating your Inheritance Tax liability so your family benefits and not HM Revenue & Customs. For example, making full use of the Residential Nil Rate Band. This is a complex area and legislation is always changing, so Quadrant Estate Planning is pleased to work with financial advisory firm, Pocock Rutherford & Co, whose expert Financial Advisers can help structure your financial and taxation arrangements appropriately.

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Care Costs

As you get older or your needs increase, you may find it more difficult to cope in your own home. Moving to a care home is one solution but it comes with the burden of a means test, which considers all assets, including the family home.

With care costs so high, funding a long-term stay could consume your entire savings or estate, including selling your home, leaving little or nothing for your loved ones.

Quadrant Estate Planning is pleased to work with financial advisory firm, Pocock Rutherford & Co, whose expert Financial Advisers can conduct a financial review of your assets to ensure they are protected should you or a partner enter care.

Estate Planning Review Service

Once you’ve made your estate planning preparations you can take comfort that your wishes have been conveyed in the most efficient and effective way. However, circumstances can change, and your wishes now may not reflect those in the future.

QEP offers a reliable Estate Planning Review Service to take control of your estate planning updates, giving you additional reassurance that your plans continue to reflect your wishes over time.

Find out more about our Estate Planning Review Service.

Funeral Plans

Planning your own funeral is not an easy task and many people avoid facing the issue. It is unfortunate that, for many families, bearing the cost of a funeral is a struggle. For example, the average cost of a burial using a funeral director is £4,267 while the cost of a simple burial in London is £6,479.

A pre-paid funeral plan ensures the cost of the funeral director’s fees and services are covered (as well as many other costs, depending on the plan), relieving your family of financial and emotional burdens. It ensures your estate is not used to contribute towards the funeral costs, and allows you  choice of options to suit your requirements.

Secure Storage

Your Will is, arguably, the most important document you will ever make and keeping it safe and secure is paramount. Quadrant Estate Planning has access to a Secure Storage Facility to ensure Wills of its clients are protected from damage, loss, and accidental (or deliberate) destruction.

A Will placed into the Facility will be checked first (eg, has been drafted correctly, executed correctly and complies with the Will Act 1837), and only your Executors will be allowed to withdraw it after your death.