Putting you in control of passing on your wealth

Are you planning to pass on your wealth to the next generation in the form of inheritance or would you rather share your money during your life time?

Whichever option you choose, having an estate plan in place could help minimise inheritance tax. Being prepared could also help you to financially support your loved ones without the worry of leaving yourself short for the rest of your retirement.

Helping you to pass on your wealth effectively, your way

Pensions and inheritance

Pensions can play a big part in your estate plan as they can be passed on to your spouse, children or grandchildren tax free. If you’re able to fund your retirement using assets other than your pension, you could pass it on to your loved ones whilst gradually reducing the size of your taxable estate.

Wills and estate planning

Estate planning sits alongside making your will to share your financial wishes before you pass away. This can help to make the lives of your loved ones easier when you’re no longer around. It could also help protect your estate for the beneficiaries named in your will and reduce the impact of inheritance tax.

Power of Attorney

A Power of Attorney is a legal document that allows you to appoint one or more people to help you make decisions, or to make decisions on your behalf, should you become unable to do so alone. The written authorisation can only be given whilst you have the mental capacity to make decisions.

Trust funds for inheritance planning

Trusts funds can be an effective tool for estate planning. By setting up a trust you can effectively place the money outside of your estate immediately for inheritance tax purposes (without having to survive seven years) whilst retaining the ability to access the income and the capital.

Estate administration service

Administering an estate when someone dies can be daunting. We understand that you won’t want your family to worry when that time comes. Our banking partner, Lloyds Bank, can support your loved ones with every detail – from securing property and having heirlooms valued, to re-homing pets.

Inheritance tax

Inheritance tax is a tax on the estate of someone who has died, including all money, property, land, jewellery, shares, cars and more. Through effective estate planning you could help to safeguard your wealth so that more of your hard-earned money goes to your loved ones instead of paying a tax bill.

Tax treatment depends on the individual circumstances of each client and may be subject to change in the future. If you need will writing or Power of Attorney services your adviser can introduce you to specialists in these areas as Schroders Personal Wealth do not provide these services. If you need estate administration or trust management services, your adviser can refer you to Lloyds Bank or Bank of Scotland. Some of these services (for example will writing and power of attorney) are not regulated by the FCA and you should refer to the provider's literature for confirmation.

Family and Finances Report

We know that people often find it difficult to discuss money with their friends and families. The aim of our Family and Finances Report is to encourage people to have conversations with their loved ones about their financial wellbeing, sooner rather than later.

Let's tackle the taboo together.

Things to think about

The death of inheritance?

Traditionally, the process of intergenerational wealth transfer happens as inheritance. This can come with the cost of inheritance tax, but it also comes with the cost of not seeing your loved ones benefit from the financial help you have given them. So why not consider passing on some of your wealth during your lifetime?

The importance of making a will

As Benjamin Franklin said, "In this world, nothing is certain except death and taxes". Despite this, so many of us fail to prepare a will before we pass away. Making a will need not be an onerous exercise and to simplify matters, here are five reasons to explain why making a will is so important.

10 ways to pass on your wealth

Giving away assets during your lifetime can be a very simple way of providing a much-needed boost to grown-up children moving up the property ladder or even to grandchildren saving for their first home. It could also have the added benefit of reducing your estate for inheritance tax purposes.

Investing for your children

Gifting money to your children or grandchildren is a tax effective way of guiding them on the path to a financially stable future. Not only could it help to give them the best start in life, it's a gift they will appreciate both now and in the long-term. Our advisers can recommend the right solution for you to share your wealth with the next generation.

Let's start with a free initial consultation

We'll begin with a free, no obligation conversation to understand if our service is right for you. There are no hidden fees or charges, and you’ll only pay if you choose to go ahead with the recommendations in your personalised financial plan.