Lowes Magazine Issue 128

PLANNING

Planning for the inevitable

This strategic move can reduce the tax rate from 40% to 36% meaning that the charitable act has minimal impact on your loved ones whilst disproportionally benefitting charities. Lowes Financial Management is dedicated to helping you secure a brighter future for your family and ensure that no aspect of your legacy is a burden to your loved ones, particularly at what would already be a distressing time. Let us guide you and your family through the complexities of estate planning, will preparation and probate, ensuring that your wishes are honoured, and your loved ones are well cared for during their time of need. Never hesitate to contact us or encourage family members to do so. Please call 0191 281 8811 and we will arrange for an adviser to get in touch. What is an expression of wishes? Unlike your will, an expression of wishes document is not legally binding, but instead, it provides guidance to your loved ones and those dealing with your estate and other assets on your preferred choices after your death. The enclosed expression of wishes document, once signed, should be placed on file with your will. It’s also important to discuss your wishes with your family. How to register your will? You can easily register your will, or someone can register your will on your behalf by visiting: nationalwillregister.co.uk It’s a simple process, with a fee of £30.

One of the most vital steps you can take to safeguard your family’s wellbeing is to ensure that you have a well prepared will. At Lowes, we understand that contemplating your legacy can be an emotional task, but it is a crucial one. By crafting a thoughtful will, you not only provide your loved ones with much needed peace of mind during an already distressing time, but you also pave the way for a smoother transition into the future. However, the journey doesn’t end with the creation of a will. Knowing its whereabouts and navigating the intricate world of probate can be overwhelming for your family and executors. Most people find themselves unprepared for this daunting and, at times, disproportionately expensive process. That’s where we come in. Lowes work hand in hand with a network of experienced solicitors to offer you comprehensive assistance. Beyond encouraging you to have a properly prepared and up to date will, we can provide your family with the guidance and support they need to minimise inconvenience and expenses following your passing. Whether you’ve never prepared a will or haven’t reviewed it recently, we’re here to help. Once your will is up to date, we encourage you to consider taking the extra step of recording and storing it with the National Will Register, adding an extra layer of security to your legacy. What sets us apart is our commitment to your family’s wellbeing. The expression of wishes form, enclosed within this edition of the magazine is not legally binding but serves as a request to your executors to turn to Lowes for assistance. When requested, we will diligently assess your needs and tender the work to our network of solicitors, striving to minimise fees whenever possible. We do not charge for this service. Furthermore, for estates subject to inheritance tax, the expression of wishes also presents an opportunity for your beneficiaries to consider redirecting 10% of the taxable portion to registered charities, under special rules.

If you do not currently have a will or the time has come to review your current will, please do not hesitate to get in touch. We’re here to help.

Lowes.co.uk

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