Published on: 19th December 2022

Christmas Estate Planning

It’s beginning to look a lot like Christmas! Whilst that might not seem like the most obvious time to think about and discuss your estate planning, being with family and loved ones provides a unique opportunity to plan ahead.

This Christmas time, think about 12 ways you might improve your current estate plan!

12. Loved ones receiving

Whether you bought them gifts this year or not, you can make anyone a beneficiary of your Will. Our Consultants can help you determine specific percentages or values that you wish for each beneficiary to receive.

11. Appointments for changing

At Casey & Associates, we strive for greatness and to create a connection with our clients so that they continue to choose our firm to complete any Will updates or changes or utilise any other types of estate planning tools. If you ever need something updated, we are one call away!

10. Charities for saving

The holidays are the time for giving! If you leave 10% of your net estate or higher to charity, your Inheritance Tax rate will decrease from 40% to 36%. This is a useful tool to receive some Inheritance Tax relief whilst also donating to causes you care about deeply.

9. Trusts protecting

At Casey & Associates, we can look to see if trusts might be useful in your circumstances to protect specific assets so that you can ensure they stay within your family and are not taken by the Grinch!

8. Ways of saving

During an estate planning consultation, our Consultants are able to discuss ways in which we might be able to help mitigate Inheritance Tax liabilities.

7. Businesses continuing

This holiday season should provide relief from work occupying your thoughts, but if you own a company, including a business continuation clause within your Will can alleviate the stress of not knowing what would happen to your business if you were to pass away.

6. Gifts for giving

If you decided to not gift everything this Christmas and you still have specific items, bank accounts, or sums of money that you want to gift within your Will, we can ensure that these go to your preferred beneficiaries.

5. LPAs

Whilst not a part of your Will, Lasting Powers of Attorney (LPAs) are documents that allow nominated individuals to act on your behalf if you are unable to do so yourself.

4. Executors

When writing a Will, you are allowed to choose up to four executors. These are the people who will ensure that your assets are distributed as you instructed, so it is important to think carefully about your choice of executors.

3. Pets clauses

Has someone gifted you a furry friend this Christmas? If so, adding a pet clause to your Will can ensure that your pet goes to a loved one who can even receive funds to care for the animal.

2. Guardians

One of the most important aspects of a Will for people with children under 18 is to include a guardianship appointment. We generally recommend nominating a guardian and a reserve guardian so that you will always have the peace of mind that your children are cared for by those you love.

And a Will to contain it all!

Start the new year right by booking a no-obligation appointment with one of our knowledgeable consultants to discuss any of these topics further. You can call 01732868190 or by clicking here.

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If you wish to give instructions or require general information about our Wills, Lasting Powers of Attorney, or Trusts then we will carry out a telephone or Zoom appointment. However, if you wish to give instructions to one of our Consultants and you feel that you can only do this at a Face to Face meeting we are offering, at our Consultant’s discretion, a limited number of Face to Face appointments in most of the areas we normally cover (subject to Government advice). To see the areas we normally cover please click here. To arrange an appointment please telephone 01732 868190 or click here.

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