FBC Manby Bowdler’s Post

Useful insights regarding estate planning

Great content from our guest speakers, I had some good take-aways myself, thank you. It has been good to talk about the elephant in the room this year and has been well received in our Technical Insight sessions and Masterclass on IHT & Trusts. It's the gift that keeps giving. If you would like further information on our Technical Insights / Masterclass sessions and how shining a light on the elephant in the room could be good for your clients and business, please get in touch. #IHT #TRUSTS #CONSUMERDUTY #OMISSION #ELEPHANTINTHEROOM

Family businesses were certainly in the firing line of the Budget this afternoon with big changes in the UK associated with changes to inheritance tax rules from April 2026. After that date, certain family business assets and some types of property such as farms, will no longer be covered by exemptions and from April 2026 the changed rules announced will mean that families in business will be paying some tax on certain family business assets valued at more than £1 million. Succession planning is already a difficult conversation for many and these changes and the financial implications will undoubtedly add more complexity and cost to the process with some likely to be forced to sell assets to cover the IHT liability falling due. The details need to be examined but these changes are likely to be the topic of conversation around the kitchen table and in family business boardrooms the length and breadth of the nation.

In estate planning, managing real property is crucial for high-net-worth families. They may own multiple properties or navigate complex structures involving partnerships and trusts. This overview addresses key administrative, tax, and planning considerations for those with substantial real estate investments. For valuable insights on this topic, visit https://okt.to/KtYV24.

Demand for our Wealth and Succession Planning service post-Budget... We’ve seen a significant increase in demand for our new Wealth and Succession Planning service following the Autumn budget announcements. We began offering the specialist service in January this year and following the Budget announcements on the 30th October, we’re seeing unprecedented demand as our clients rush to review their affairs. Richard Miller, our Chairman and lead Partner within our Wealth and Succession Planning service, said: “We had already identified a gap in the market whereby family businesses needed practical and solutions-focussed advice from their solicitors in respect of their plans for the future of the business. “The changes to inheritance tax reliefs on agricultural and commercial property assets set out within the Budget has now intensified the need for this focus and we are well placed to look after our clients by ensuring that their current circumstances are fully evaluated, before setting out the options for changes to be made. The feedback from clients so far has been extremely positive.” Read on here: https://lnkd.in/ewbSTNxH #cumbria #newcastle #successionplanning

In estate planning, managing real property is crucial for high-net-worth families. They may own multiple properties or navigate complex structures involving partnerships and trusts. This overview addresses key administrative, tax, and planning considerations for those with substantial real estate investments. For valuable insights on this topic, visit https://okt.to/bvaR7C.

Great news! Wealth.com released new estate planning tools inspired by family offices to assist advisors with trusts and transfer taxes. Stay up-to-date in-worth planning with these innovative resources. Discover them here: https://okt.to/YlVnAF

Delighted to be leading the Wealth & Succession service now offered by Burnetts… the impacts of the recent budget mean that these considerations have gone from being strongly advised to now being critical for all business owners #burnetts #wealthandsuccession

Secure Your Legacy with Thoughtful Estate Planning 🏡 Creating a will and strategic estate planning are crucial to ensuring your assets are managed and distributed according to your wishes. This process provides clarity, reduces potential conflicts, and preserves your legacy. Key Insights: 📜 The Importance of a Will: Establish clear instructions, protect beneficiaries, and minimise disputes and tax burdens. ⚖️ Probate and Intestacy Rules: Understand the legal process and consequences of dying without a will. 🛡️ Trusts in Estate Planning: Explore discretionary, interest in possession, and bare trusts for asset protection and tax efficiency. 🖋️ Powers of Attorney: Ensure your financial and healthcare decisions are managed according to your wishes if you're incapacitated. ✍️ Drafting a Will: Appoint executors, specify asset distribution, and include provisions for minors. 🎁 Gifting and Inheritance Tax: Utilise strategic gifting to reduce IHT liabilities while providing for loved ones. 💼 Role of Independent Financial Advisers: Leverage professional advice to navigate complex estate planning and maximise tax efficiency. 📖 Read our blog to learn how proactive estate planning can protect your assets, provide for your loved ones, and secure your legacy. ➡➡ https://lnkd.in/eVn8wtdR ⬅⬅ #taxexemptions #estateplan #TaxExperts #TaxPlanning #InheritancePlanning #IHT #inheritancetax #IHTPlanning #EstatePlanning #FinancialPlanningTips #FinancialPlanning #financialadvisers #financialadviser #financialadvice

An overview of trust types, purposes, benefits, and tax implications, highlighting their versatility and effectiveness in estate planning.