Estate Planning | Ross Naylor

Expat Financial Advice: What is a Property Trust Will?

A property trust will (also known as a property protection trust, an asset protection trust, a family protection trust or a property preservation trust) keeps your home safe for your loved ones after you die. It does this by placing your share of the property in a trust, so that the people you want to benefit from it can – but without owning it. With a property trust will, your spouse can still live in the home you share after…

The importance of properly nominating beneficiaries

A beneficiary nomination is a crucial step in ensuring your wishes are respected when it comes to the distribution of your pension or life insurance benefits. By nominating beneficiaries, you can ensure your assets are passed on to the right individuals. Completing a beneficiary nomination form provides clarity and helps prevent any misunderstandings or delays after your passing.

What is a spousal bypass trust and who should use one?

Legislation introduced by the Taxation of Pensions Act 2014 meant that, in the majority of cases, pension benefits are able to pass down through the generations free of inheritance tax, as long as they remain within the pension wrapper. Therefore, if you have a straightforward family situation and are leaving funds to beneficiaries that you perceive as responsible, then passing these funds on within your pension is likely to be the best option.

EU Succession Regulation: What is it and how does it affect UK expats?

The EU Succession Regulation (EU 650/2012), also known as Brussels IV, came into effect on 17th August 2015. The aim was to resolve the complex cross border probate disputes that had arisen as an unintended consequence of the freedom of movement of workers and retirees within the EU.

Using gift allowances to reduce IHT: Six tips on using gifts to reduce inheritance tax

As the old saying goes, it is better to give than to receive. But did you know that when you give your loved ones a gift you can also benefit as well as the person you’re giving to? It may come as a surprise, but when you make gifts as part of your overall inheritance tax planning, you can have the pleasure of giving, bring joy to your loved ones through your generosity, and even reduce your inheritance tax liability…

How can marriage or divorce affect your Will?

As the old saying goes, the only sure thing in life is death and taxes. Having a Will in place can at least help mitigate the emotional stress of the former. However, it is crucial that any Will is kept up to date with changing personal circumstances. In this post, we will look at the impact of marriage and divorce on an existing Will.

Expat guide to UK inheritance tax

In 2021, the UK taxman collected GBP5.7 billion from inheritance tax (IHT). You shouldn’t think that, because you are an expat, this doesn’t concern you.

Using life insurance to mitigate Inheritance Tax

In recent research from Barclays Wealth, three in five (60 per cent) UK adults aged between 45 and 54 said they did not know if their investments would be subject to inheritance tax when they were passed on to family. Additionally, the survey found that a quarter (26 per cent) of respondents did not know if their property’s value would be considered separately to the rest of their financial assets for inheritance tax purposes.