What did Henry Crawford know about estate and succession planning that the others didn’t?

Henry had comprehensive independent advice and it was very effective. The percentage of Inheritance Tax that his heirs paid was very small.

 

He achieved this result because he used an adviser who knew that a holistic solution was needed, rather than just to put an IHT plan in place.

 

 

How the adviser achieved such an effective outcome:

 

  1. Ensured that his two children (his sole heirs, now in their 50s) were involved in the planning process from the beginning.

  2. Recommended a solicitor to update Henry’s will and put a lasting power of attorney in place, just in case it was needed.

  3. Introduced Stellar’s ESP Portfolio services that follow a conservative and prudent investment strategy and provide:
    -  access to capital at all times;
    -  a choice of income or growth; and
    -  offer full Inheritance Tax relief after two years.

  4. Worked in conjunction with a tax adviser to ensure that all relevant reliefs and exemptions were considered and that the tax planning was robust.

  5. Took all of Henry’s needs into account, not simply the objective to reduce Inheritance Tax. This meant a comprehensive strategy was put in place with provision for later life care.
    This was important for Henry because several of his friends needed care, both at home and in care accommodation, and he was keen to ensure that any planning undertaken was affordable.

 

 

The outcome

 

  • From the outset, Henry’s children were delighted with the thoroughness and professionalism of the adviser and their involvement in the planning.

  • By implementing the advice received, Henry was able to maximise his estate value and reduce the impact of Inheritance Tax.

  • The adviser was in control of the whole process and was able to construct and implement a holistic plan for Henry and his beneficiaries.

  • The children were delighted with how tax efficient their father's affairs were and with the value of their inheritance.

  • After their father's death, they asked the adviser to continue managing the money they inherited. Which gave the adviser two new clients!

 

 

Sharing the knowledge

 

We would like to share the knowledge of what Henry Crawford’s adviser knew.

 

To learn more please contact one of our experienced team on 020 3907 6984.

 

 

 

 

Marketing Manager


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