Financial Planning

Our dedicated team of advisers can provide specialist, cost-effective, and impartial advice on all financial matters including wills, inheritance tax, probates, trusts, or powers of attorney, and speak in plain English to ensure you gain the good financial understanding that you deserve. All our financial advisers are highly qualified, experienced, and friendly, and simplify the process for you to make it operate as smoothly as possible. See what some of our clients have to say about us.

Here is a brief explanation of just some of the ways you can plan financially:

Wills

A will is a legal declaration by which the testator names one or more persons to manage their estate and provides for the transfer of their property at death. Our experienced advisers offer a sympathetic approach to wills and understand they can be very technical, so offer straightforward advice to enable you to make the right choice under your circumstances.

Inheritance Tax

At present, the inheritance tax (IHT) rate is 0% on the first £325,000 (‘nil-rate band’) of an individual’s tax estate, and 40% on the remainder of the value at death. Assets exempt from IHT include those left to a UK registered charity, some political donations to major political parties, small gifts, some business assets, and some farmland. At The Money Map, we provide informative professional advice to help you with every step of the process.

Probate

Probate is the legal process of administering the estate of a deceased individual by resolving all claims and distributing the deceased’s property under the valid will. A probate court decides the validity of a testator’s will, and a probate interprets the instructions of the deceased, deciding the executor as the personal representative of the estate, and adjudicating the interests of heirs and other parties who may have claims against the estate. Our budgeting advisers can assist by translating the technicalities into language you can understand, to help you make the right financial decisions.

Trusts

A trust conventionally arises when property is transferred by one party (a settler) to another party (a trustee) for the benefit of a third party (a beneficiary). It is also possible for a legal owner to create a trust of property without transferring it to anybody else, simply by declaring that the property will henceforth be held for the benefit of the beneficiary. Trusts can be used for many types of financial planning and tax mitigation exercise. Our financial planners can help to provide more information on trusts, settlers, trustees, and beneficiaries.

Powers of Attorney

Created under the Mental Capacity Act 2005, Lasting Powers of Attorney (LPAs) replaced the former, narrower Enduring Powers of Attorney (EPAs) in 2007. Their purpose is to meet the needs of those who can see a future when they will lack capacity to look after their own personal and financial affairs. An LPA enables an individual to make appropriate arrangements for family and trusted friends to be authorised to make decisions on their behalf. At The Money Map, we can talk you through the implications of LPAs to help you make informed financial decisions.

For more information on your financial planning, book your free consultation with one of our experienced advisers by calling 0800 848 8250, email enquiries@themoneymap.co.uk, or fill out our simple contact form.