Questions, carefully considered.

Estate planning is the process of arranging your affairs so that everything you own (your home, savings, investments, pensions, business interests and personal belongings) passes to the people you choose, in the way you intend, with as little tax and disruption as possible. It typically combines Wills, Trusts and Lasting Powers of Attorney.

Putting a plan in place for a time when you are no longer around is one of the most responsible things you can do for your family. Without one, the law decides who inherits, Inheritance Tax can take up to 40% of what remains, and loved ones may be left unable to make decisions on your behalf.

If you are later deemed mentally incapable by a medical professional, you can no longer make a Will or Trust, give substantial gifts or create a Lasting Power of Attorney, because there is no proof of competency at the time the decisions are made. Planning must be in place while you have full capacity.

A Family Gift Trust is a lifetime Trust that lets you place gifts into a protected environment for loved ones while you are still alive. Every seven years you can settle up to £325,000; once that seven-year clock has passed, the gift sits outside your estate for tax purposes. The settlor cannot benefit from the funds once they are in the Trust, which also helps protect against future care-fee assessments.

Without a Will, the strict and rigid Rules of Intestacy apply, so the law decides how your estate is distributed rather than you. Your spouse or civil partner will not automatically inherit everything, common-law partners may receive nothing, and there can be lengthy delays before beneficiaries, even a spouse on a joint account, can access funds.

We begin with a preliminary meeting to discuss the concept of a Will and how it leads into wider estate planning. You are given time to consider your decisions, such as executors and specific legacies. Once you are happy, we take your instructions and produce a bound Will ready to be signed, dated and witnessed.

Yes. Wills are automatically voided by marriage unless a contrary clause is included, and on divorce anything left to an ex-partner is treated as though they had predeceased you. After significant life changes, grandchildren, a new property, a business, a review is essential. We offer a free review to help determine whether alterations are needed.

Yes. A Will is the correct place to appoint guardians for children under 18. Without one, decisions about who cares for your children fall to the courts rather than the people you would have chosen.

A Trust is a legal arrangement that allows chosen Trustees to hold assets on behalf of your beneficiaries. It can hold your home, money, pensions, life assurance, business assets and investments for up to 125 years, keeping them protected while still available to the people you love.

Anyone who owns or plans to own a home, holds around £100,000 or more in bank accounts or investments, or has large pensions, life policies, business interests or agricultural assets should consider one.

On first death, Trusts can protect against a surviving spouse's remarriage redirecting assets, and against the family home being assessed for care fees. On second death, at beneficiary level, they help prevent generational Inheritance Tax, and shield inheritances from divorce settlements, creditors, bankruptcy and future care fees.

Inheritance Tax is charged at 40% on anything you own at death above the Nil Rate Band, currently £325,000. It is widely regarded as one of the most punitive taxes, and it is not unusual for a married couple with a family home, ISAs, investments and a holiday property to face a bill approaching a quarter of a million pounds.

Regular and affordable gifts made from income are exempt from Inheritance Tax once they leave your estate. Larger one-off gifts, known as Potentially Exempt Transfers, fall outside your estate after seven years, with taper relief applied after three years.

Business Property Relief removes qualifying trading company shares from Inheritance Tax once they have been held for two years. The Enterprise Investment Scheme offers 30% income tax relief, Capital Gains Tax deferral, and qualifies for BPR, making EIS assets IHT-free after two years. Investment advice on these is provided through Ascot Wealth Management (FCA no: 551744).

Bloodline Planning uses Trusts alongside your Will to make sure your wealth stays within your direct family line (your children, grandchildren and beyond) rather than being lost to a new spouse, a divorce settlement, a creditor or an unnecessary tax bill.

A Trust can hold and protect your assets for up to 125 years, meaning your plan can span three or four generations of your family.

Yes. Beneficiaries can use, live in and benefit from the assets held in Trust. The Trust simply provides a protective wrapper so that the underlying wealth cannot be lost to remarriage, divorce, creditors or an unnecessary tax charge.

A Lasting Power of Attorney (LPA) is a legal document that lets you appoint one or more trusted people to make decisions on your behalf if you were ever unable to make them yourself.

There are two. A Health and Welfare LPA lets your chosen attorney decide on matters such as care, medical treatment and daily life, including whether to accept or refuse life-sustaining treatment. A Property and Finance LPA allows decisions on selling your home, managing investments, paying bills and collecting benefits.

Loved ones will be unable to make crucial decisions on your behalf without applying to the Court of Protection for Deputyship, a long and difficult process, even for something as ordinary as accessing a joint bank account.

Established as a department of Ascot Wealth Management in 2010 by former investment banking professional Mark Insley, Ascot Estate Planning grew rapidly and branched out into its own company. Our approach combines financial and legal expertise, giving clients access to STEP-qualified and FCA-regulated advisers.

We sit alongside Ascot Wealth Management, so Wills, Trusts, Powers of Attorney and the financial planning that supports them are considered under one roof, with STEP-qualified specialists and FCA-regulated advisers working together on your plan.

The first conversation is complimentary and without obligation. You can call 01344 851250, email enquiries@ascotep.com, or use the consultation form on our website.