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Inheritance Planning

What is Inheritance Planning?

Inheritance Planning makes sure that everything you’ve worked hard for is passed on to those you care about. It includes:

Call us on 03335779774 to see how Jubilee Cover can help with all your Inheritance Planning needs.

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Jubilee Cover have a range of later life products, so you can have everything in one safe and secure place giving you and your family peace of mind

Inheritance Planning

Put everything in place with Jubilee Cover

We all know that our own money and personal wishes are very private and the reality of it is that we often never get around to discussing such important things. However, once you know what to talk about, the rest is surprisingly easy. Understanding your own financial situation can appear daunting, but Jubilee Cover can help you get everything in place.

Put everything in place with Jubilee Cover

There are many questions you may have when it comes to Inheritance Planning, and it can seem quite overwhelming to begin with. Our expert advisors are here to help guide you through the process, taking it a step at a time so you feel comfortable at every stage. We will help explain the jargon in plain English and discuss how you want to leave your legacy, whether it is big or small, for your loved ones to benefit from.

Make sure you know what you want (and your loved-ones do too)

Do you know that, unless you make a valid Will, the government decide who gets what, including the care of children under the age of eighteen? By making a Will, you remain in full control and make the decisions as to who gets what when you’re gone, including who looks after your children.

So, who gets what and when?

Many beneficiaries are surprised to find out that their inheritance has been divided up or in some cases not mentioned at all, for example, non-married partners and stepchildren. It is also important to think about sentimental items you want to pass down and if you have minors, it is a good idea to think about the age of when you would like them to inherit.

Discussing your final wishes with your loved ones

Talking to your nearest and dearest about what you want to happen when you are no longer around is not always an easy discussion to have but doing so ensures that everyone who needs to know does and can also help them to feel at ease that everything is in place. Recording and documenting your final wishes through a Will is a selfless act. You will be taking away the unnecessary stress and burden from your loved ones, ensuring that all your wishes are carried out and removes the potential for conflict once you are gone.

Do you know what you have and what you are likely to pass down?

Understanding what you are “worth” isn’t always as easy as it sounds, however whether you’re a multimillionaire or not (like the majority of us), the first thing you should do is start to make a list of everything you own, for example, bank accounts, online banking, credit cards and social media accounts. It’s also good practice to have a secure folder which contains your life insurance and pension documents too.

Once you know what you have, you can work out what you will need for the rest of your life and, from that, you can see what you are likely to be passing down to your beneficiaries – do consider potential care costs too!

Now or later?

As soon as you have decided who gets what, and what you have, you can then decide whether to wait until you go, or “gift” now – like everything, there are rules about what you can and can’t do, but gifting has become a very popular part of Inheritance Planning. However, before you gift an asset or cash to a loved one, it would be worth getting advice first, and our advisors can help you throughout the process.

Work to REDUCE your Inheritance Tax (IHT) Bill

The only two guarantees in life are death and taxes and, when you die, both apply. This can add significant emotional strain to an already difficult situation for your loved ones. Reducing your IHT liability which is currently £325,000 for a single person and £650,000 for married couples (this is the amount you are able to pass on tax free) is key to ensuring that your beneficiaries receive the maximum amount possible from your estate.

Jubilee Cover’s knowledgeable legal advisors can offer you free, expert advice on how to ensure that all your inheritance planning needs are put in place. We will take the time to discuss your personal circumstances and wishes and then ensure you have the right documents and products so your hard-earned wealth benefits those you have left behind.

Jubilee Cover – Why Choose Us?

At Jubilee Cover we offer a full range of Will and Estate Planning products, to protect you and your Estate, ensuring that your assets are left to your intended beneficiaries when you are gone.

Our Inheritance Planning services include:

Our Head Office is at Jubilee Wills, Titan Business Centre, 920 Bradford Road, Birstall, WF17 9PH ; where we have brought together leading experts in their field to offer our customers and their families both an experienced yet very approachable service Our team of experienced legal advisors are here to take you step by step through the different financial considerations you need to have in place when planning how you would like to leave what you have worked hard to achieve. We aim to make the process simple and free of jargon, so you feel comfortable that everything is taken care of. Inheritance planning is our specialist field, and we take great pride in ensuring customer satisfaction all the way from your initial consultation, through to regular updates should your circumstances change. We can write and put in place the different legal documents you need, such as a Will and Lasting Power of Attorney, ensuring nothing is left to chance or misunderstanding. We can also guide you through the other services we offer, such as Trusts and Probate, to make sure you not only get peace of mind that everything is sorted out, but also reduce any financial burden left for your loved ones.