True Bearing

Estate Planning Services

At True Bearing, we understand how hard you have worked to accumulate your wealth, and why you will want to pass on as much of it as you can through effective Estate Planning

We take a holistic approach so our advice and support is not just limited to growing your wealth, we are also here to help you protect it, ensuring that you can leave a financial legacy to your children, future generations, friends and organisations you want to support.

Our in-house Legal Services team can help with all aspects of Estate Planning to make your loved ones’ lives as comfortable as they can be after your death.

To start your Estate Planning journey today, please call our legal services team on 01257 260011, or complete our contact form for a free, no-obligation meeting with a legal intermediary.

The First Steps in Estate Planning

If you would like to know how you can maximise the proportion of your estate that you will pass on to your chosen beneficiaries, then the first-step is to create a list of your assets. 

Secondly, you should get in touch with a Legal professional who can advise you on strategies to help you achieve your Estate Planning goals. 

At True Bearing, we have a wealth of experience addressing complex Estate Planning issues and are on hand to guide you. Contact us for an initial conversation, through which we can gain a better understanding of your objectives and talk you through the options that are available to you. 

Should you choose to proceed with our Estate Planning service then one of our Legal Intermediaries will work closely with you to devise a strategy to deliver the best possible outcome for your goals under the current regulatory framework. They will be with you every step of the way throughout the process. 

If you want to learn more about Estate Planning, then get in touch with our team today.

Why choose True Bearing for your Estate Planning?

For many years, we have offered an expert Estate Planning service to our clients. Our Legal Intermediaries have years of relevant experience and training and we pride ourselves on our strong track record of success for our clients. 

We believe that effective Estate Planning is about understanding what you want to achieve, considering everything that could affect your wishes, and being aware of all the options available to you so that you can make an informed choice. True Bearing will provide you with expert comprehensive advice throughout the process and will help you to better achieve your goals.

What is involved in Estate Planning?

Put simply, Estate Planning is the process of organising your affairs and assets so that the people and organisations you hold dear will receive the best possible benefit when you die. The central element of Estate Planning is creating a will. Sometimes the terms ‘Estate Planning’ and ‘will planning’ are used interchangeably; however, though they overlap there is a difference between the two processes. Will planning is the process of detailing your last will and testament. Estate planning, on the other hand, is more complex and involves a variety of other activities and processes. It could include the following:

• Assigning lasting powers of attorney (LPA) for financial and medical
• Setting up a will trust
• Funeral arrangements
• Establishing a guardian for your children or living dependents
• Minimising taxes and any unnecessary expenses including legal fees and court costs
• Making charitable donations to limit estate taxes
• Naming an executor and beneficiary

FAQs

 

What is Estate Planning and what is involved?

Estate Planning is the process of mapping out how you would like your estate to be handled once you die or when you are no longer able to make decisions for yourself. It involves getting your legal and financial affairs up to date and in place for you and your estate. 

Who should consider Estate Planning?

An estate consists of everything you own - and everyone has one. Your car, your home, any investments you have made, and other personal possessions are all examples of what makes up your estate. Once someone passes away, they cannot take their estate with them. 

If you want to have control over what happens to your estate once you die then you should consider Estate Planning. Estate Planning can help you decide who will receive your assets and when they will receive them. 

What are the benefits of Estate Planning?

There are many benefits and reasons why Estate Planning is important. Simply put, Estate Planning is important because it allows you to preserve your assets and ensure that the legacy you leave behind is distributed and preserved as you want it to be. 

Estate planning will allow you to protect your assets for your family and loved ones. Without the appropriate planning in place then you would have no control over what happens to your financial assets. This can be a daunting prospect and thus it is important to have a plan in place for your assets so they can be dealt with as you wish. 

Estate Planning will also mean choosing someone to make decisions on your behalf once you die or once you are no longer able to make such decisions. By assigning a lasting power of attorney, you can ensure that you have a person that you trust to make decisions on your behalf. 

Finally, Estate Planning can also allow you to mitigate Inheritance Tax. 

How much does Estate Planning cost?

The cost of Estate Planning will vary from client to client as it is dependent on the unique needs of a client and what services are required as part of Estate Planning. Your Legal Intermediary will explain all these costs to you prior to going ahead. 

The initial consultation with our Legal Intermediary will be at our expense and can take place either in the comfort of your own home, online though Microsoft teams or in our office in Chorley. Following this initial consultation we will prepare an Estate Planning proposal in which our fees will be clearly detailed so that you understand them before you commit to any expense.