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Bateman Group Logo

Estate Planning

As you approach later life, or if you have significant assets, then you will need to consider the impact of your death on those that you leave behind and the financial implications.

Estate Planning

The UK Government currently generates £4.5 billion a year in Inheritance Tax and is forecasted to reach over £6 billion per year by 2022 – and with the continued increase in underlying property values, the need for careful planning is becoming more apparent than ever before. The costs of providing Long Term Care has also seen significant increases over recent years, with most care homes now charging fees in excess of £50,000 per annum with a fixed 5% annual indexation, and potential changes in legislation are now making this another area of significant financial cost which your estate will have to consider in future years.

In addition, the need to ensure that the family have swift access to funds in the event of your demise as well as ensuring that any particular circumstances can be dealt with. Many people still do not have Wills in place, and this places their estates at risk from tax as well as delaying any payment until Probate has been granted, which can take up to 2 years in some cases. It is also advisable to consider Power of Attorney should you be unable to make financial decisions in the event of a serious illness or deterioration of your health, and we would recommend that you consider these areas as part of your long-term financial planning.

How we can Help

You are able to mitigate any liability to Inheritance Tax with careful planning and this can involve taking advantage of your Annual Gift Allowance, Potentially Exempt Transfers and general disposal of assets – but you can also incept life assurance plans to meet the liability to ensure that your family do not have to dispose of assets. In addition, you can also place funds in Trust to protect these assets and dependent on your individual circumstances and requirements, there is a range of options available.

We can assist and guide you through these decisions, particularly if you wish to retain an element of access or an income for example, and provide you with suitable options to meet your requirements. We also have access to Solicitors at preferential rates to provide the more complicated guidance needed – links to their sites can be found under the “Professional Partners” section of this website.

What we Do

Why The Bateman Group?

  • Established since 1967
  • Personal client-focused service
  • Totally independent experts who review the whole market
  • Regulated by the Financial Conduct Authority
  • One of the largest insurance broker & financial advisory firms in Warwickshire
  • Experienced support team
  • Control of client assets in excess of £120 million

Areas of Advice

  • Whole of Life or Term Assurance – to mitigate Inheritance Tax
  • Trust Planning – Bare, Absolute, Discretionary, Accumulation, Interest in Possession

What Happens Next?

  • Arrange an initial meeting to discuss your requirements
  • We complete a “Fact-find” & gather full data
  • We provide a recommendation report & quotations
  • Arrange follow-up meeting to agree on a suitable strategy
  • We finalise amendments & plan implementation
  • We process & administer all documentation
  • Agree & diarise ongoing monitoring service