Bristol, UK based, Kaur Wills Bristol company recently announced the launch of their new estate planning Bristol service. They offer their clients a bespoke solution to ensure the protection and safety of their wealth against avoidable taxation. The company’s goal is to ensure that the process of inheriting family wealth occurs as smoothly as possible.
A common concern that clients have as they approach the later stages of their lives is what would become of loved ones after they have passed away. As they try to figure out the best methods of looking after the family they leave behind, the first option that presents itself is usually a will. While many are aware that it is important to write a will—as without one, no one would know about the deceased’s final wishes or how to carry them out—neglecting this step also leaves the relevant estate and assets open to taxation.
Furthermore, the lack of a will also enables the potential exploitation of a client’s assets by relatives who may be entitled to a part of said assets, against the deceased’s wishes. Even if the client does not possess much wealth, and an estate plan may not be a top priority, taking the time to write a simple will gives them an opportunity to consider what should happen to their assets in the event they pass on.
Many people hold the assumption that a will is the only measure they need to take in order to ensure that their loved ones receive all the wealth that is left behind. While having a will, as well as someone to execute it (which could be a trusted friend or relative) can help ease this process, it does not guarantee that everything will happen as intended.
With their new estate planning service in Bristol, Kaur Wills Bristol offers the best complement to their clients’ final wishes, as a will alone may not be enough to ensure that their family is completely protected from all harm in their time of need. Retaining a properly structured estate plan also helps them avoid, or reduce, the amount of inheritance tax that has to be paid by the benefactors of the estate.
The benefits to estate planning, in addition to other preparations (such as arranging a will that is free of ambiguity), include providing a clear understanding and outline of the deceased’s wishes, making funeral plans for the deceased, and providing a clear and comprehensive picture of their assets. Estate planning is the best practice to ensure that, when the time comes, an executor applying for probate will have fewer issues to contend with as there is a clear, detailed plan regarding how the estate should be distributed in the event of their demise.
An estate plan also serves the purpose of protecting their family and any other beneficiaries from the impact of inheritance tax. When adequate preventions have not been made in advance, inheritance tax can come as an unwelcome surprise for the deceased’s family members. However, there are ways they can protect their assets and, provided that proper preparations were made far enough in advance, the deceased’s family may be able to mitigate or eliminate the inheritance tax altogether.
Kaur Wills Bristol is committed to providing clear advice for individuals and their families who are considering their later life finances and the protection of their family wealth. It is in times of need that families should be together, and easing their worries regarding assets helps ensure that everything is carried out as smoothly as possible.
The company’s website has many different resources meant to help their clients understand how vital it is that they make proper preparations for the events of their demise. A representative of Kaur Wills Bristol stated, “Our website is an important tool for our clients, as it is through there that we have set out to explain how to prepare your financial affairs, and the importance of it in order to achieve the best possible outcome for you and your family after you pass away.”
Those interested in contracting Kaur Wills Bristol’s services may contact Harvinder Kaur, or reach out through the company’s website. The firm can also be reached through their social media platforms.
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For more information about Kaur Wills Bristol, contact the company here:
Kaur Wills Bristol
Harvinder Kaur
08444142020
hello@KaurWills.co.uk
Kaur Wills Bristol 16 The Yard Bristol BS2 9YR
