Wills; Trusts; Inheritance Tax Planning & LPA

When most people go to a lawyer, they become involved in “death planning.”  After a short meeting with the lawyer the clients are typically sent home with a will (which guarantees going through probate). At their death, a family member is expected to return to the lawyer’s office so that the lawyer may probate the will.

In contrast, at Maximum Inheritance Specialists we focus on “estate planning” – inheritance tax planning and probate avoidance.  Here’s the difference!  Most of our clients of any age are healthy and have a life expectancy measured in not merely years but decades.  So we routinely expect to work with our clients for 10-50 years.  Traditional death planning focuses on the  end of this beautiful and exciting event called life.  By contrast estate planning is concerned with all of life.
Below are some of the things we consider in building an estate plan for your family.

  • Building a profile of your family situation to identify trouble spots or special needs
  • Documenting your assets, including the amounts, types and risk levels associated with the assets
  • Determining the vulnerability of assets with respect to taxation and catastrophic illness
  • Developing and implementing tax and asset protection strategies tailored to your assets
  • Developing a plan that allows you to choose who can act on your behalf if you are incapacitated, without court proceedings
  • Familiarizing you with life changing events that alert you to review and update your plan
  • Providing guidance to avoid probate costs, paperwork and delays
  • Counselling your family at your death or disability about steps to preserve your wealth

We advise our clients that their estate plans are not static, but rather, are designed to evolve with them.  For example, your plan should be revised for:

  • Changes in your health.  For example, if your spouse becomes incapacitated and your plan leaves everything to your spouse that is nowhere as effective as it was designed.
  • Changes in family.  For example, if your main beneficiaries – usually your children are about to enter situations that could result in the need for protection from financial claimants.
  • Changes in the law.  For example, when the tax laws are changed, they may necessitate changes in subsequent inheritance tax planning.

As most people who are in the retirement phase of life know, getting older is the beginning of a new and interesting journey which is likely to last years… and that journey is not for the faint of heart.

Your Estate plan would secure your family’s inheritance using any of:

  • Wills
  • Lasting Power of Attorney
  • Trusts
  • Care Home Fees Planning

Achieve a tamper-proof estate – have your wishes and values expressed in clear, legally valid, unambiguous terms. Leave the heavy lifting to me.