PROTECTING YOU

Here at TUTIS we will take time to get to know your situation including your concerns around your family, and a review of your assets. We will discuss with you inheritance tax and if this will affect your estate. We will review your attitude towards long term care, and how .this along with inheritance tax could affect your beneficiaries’ inheritance and impact on you. If you have a business either as a partnership or limited company we will discuss how this is protected, you may have disabled beneficiaries or beneficiaries suffering from mental health issues.

You may also be concerned about who makes decisions on your behalf if you suffer mental impairment or dementia.

We will then recommend a protective frame work built around a will to potentially eliminate or reduce these impacts on you and your family, providing the peace of mind you are looking for.

BOOK YOUR FREE 30 MINUTE INITIAL CONSULTATION

BOOK YOUR FREE CONSULTATION

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Illness Lasting Powers of Attorney

Mental Impairment Wills

Case Studies

Mr and Mrs Phelps

We were looking for someone who we could relate to who would understand our needs with investments. We met David and liked him immediately. He advised us of the type of plan which would be beneficial to our circumstances. Mr and Mrs Phelps are both in their late 60s and retired, I have been advising them on various areas of financial planning including inheritance tax planning for a number of years. During our conversations it was evident that they were concerned about their son’s marriage and what would happen to their estate on second death. They were adamant that they wanted their son and his children to benefit from any legacy they passed too him. There estate was valued at approximately £900,000. They had a will which was a straight mirror will leaving everything to the surviving spouse and then to their son on second death absolutely. This meant that on second death the estate would be part of their son’s estate and so open to social impacts such as divorce, with their son’s legacy potentially forming part of a divorce settlement. I recommended the married couples beneficiary protection plan with appropriate letters of wishes, this planning on second death directs there estate to a trust. Their son can either take the legacy/gift or leave it in the trust, either way it will not form part of his estate so cannot be used as part of a divorce settlement or by any creditors. The legacy is protected because the trust is the legal owner of the gift and not the son. This then provides third generation Inheritance tax planning and care planning for grandchildren.

"David has been advising us for a number of years, he has listened to our concerns about our son and what would happen to our estate when we are both no longer around. We have both worked hard to build a lifestyle that can give us a happy retirement, and we want to make sure our son and our grandchildren benefit from that when we deceased. David explained clearly how rewriting our will and using a trust would give us the peace of mind that we was looking for. "