| ESTATE PLANNING |
Estate planning is a popular topic today and encompasses many aspects. First, it is differentiated from “financial planning” which is a process of investing and achieving returns. Estate planning is a process which usually includes arranging a client’s financial affairs and eventual distribution to others so as to achieve tax advantages and disposition goals. For some clients this means minimising inheritance and estate taxes so as to leave greater amounts to beneficiaries, and for other clients it is the careful management of their estates after their death. At Tenn Probate UK we serve needs of individual clients who want to transfer assets efficiently to their chosen beneficiaries. We are able to achieve tax savings for clients by establishing a trust for a surviving spouse in addition to trusts for children and/or grandchildren. We assist clients in their personal inventory of assets and liabilities, calculate their current tax position and liabilities, and perform some “what-if” calculations to demonstrate various options available to a client and the tax consequences of such options. We assist clients in transferring assets while living or at death to those beneficiaries they choose, and advise on some of the benefits of certain kinds of distributions. Some clients wish to preserve assets going to children for education, or to enter business ventures. Other clients may wish to transfer assets to charities and we assist in such transfers that reduce taxes. Our estate planning also can result in providing for the special needs of family members while protecting assets and assuring professional management of these assets. We advise personal representatives of estates and trustees about administration of estates and trusts and guide them in all aspects of fulfilling their responsibilities. |
The general types of estate planning matters we handle include:
| Wills and Trusts Living Wills Powers of Attorney Guardianships Life Insurance Planning | Estate Planning Estate Probate Living Trusts Disability Planning Charitable Remainder Trusts |