Specialist Financial Advisers from Wesleyan Financial Services offer tailored advice for medics on all aspects of estate planning, including:
- Working out the value of your estate
- Minimising your Inheritance Tax liability
- Setting up trusts
- Passing on your medical business
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Where do you want your wealth to go?
Without a proper plan, you could be leaving a big Inheritance Tax burden behind. We can help you manage the minefield of estate planning, with financial advice tailored to your unique needs.
Please note the Financial Conduct Authority (FCA) does not regulate Inheritance Tax planning and trusts.
Tax treatment depends on your individual circumstances and may be subject to change in future.
Minimise your Inheritance Tax liability with estate planning
Inheritance Tax can take a huge chunk out of the value of your estate. Anything above the threshold (or Nil Rate Band) of £325,000 could be taxed at 40%.
There are ways to help minimise Inheritance Tax. These could include:
- Making gifts to family and friends before you die
- Setting up a trust fund for those you want to benefit from your estate
- Putting your life and pension policies into a trust so they’re not included as part of your overall estate.
Why choose us for estate planning advice?
Sell or pass on your medical business in a tax efficient way
If you own a medical practice, whether alone or jointly, have you considered what will happen to it when you die?
Your adviser can help you think about exit strategies and how you can maximise the financial benefits of selling your medical business. There’s also succession planning to consider and tax-efficient ways to pass on your share to limit how much IHT you need to pay.
Financial advice tailored to your profession and needs
When you meet with a Specialist Financial Adviser, you can expect personalised advice from somebody who understands the demands of the medical profession.
They'll be able to advise you on an array of complex areas, including estate planning. They're here to answer any queries you have around managing your estate - from passing your business on, to managing investments and your personal estate.
If your case is particularly complex, they may refer you to a Specialist Financial Planner.
Helping plan your financial future today
Through a full review of your finances, we help you assess how you can start reducing your Inheritance Tax liability now, while ensuring you have enough funds to live comfortably on in later life.
With estate planning, it’s always important to consider your future expenses, like the potential cost of care as you get older. If you tie all your money up in trust funds or give it all away as gifts to avoid Inheritance Tax, you could leave yourself short of the funds you need in retirement.
It’s a tricky balance, but one we can help you achieve.
If you own a medical practice, whether alone or jointly, have you considered what will happen to it when you die?
Your adviser can help you think about exit strategies and how you can maximise the financial benefits of selling your medical business. There’s also succession planning to consider and tax-efficient ways to pass on your share to limit how much IHT you need to pay.
When you meet with a Specialist Financial Adviser, you can expect personalised advice from somebody who understands the demands of the medical profession.
They'll be able to advise you on an array of complex areas, including estate planning. They're here to answer any queries you have around managing your estate - from passing your business on, to managing investments and your personal estate.
If your case is particularly complex, they may refer you to a Specialist Financial Planner.
Through a full review of your finances, we help you assess how you can start reducing your Inheritance Tax liability now, while ensuring you have enough funds to live comfortably on in later life.
With estate planning, it’s always important to consider your future expenses, like the potential cost of care as you get older. If you tie all your money up in trust funds or give it all away as gifts to avoid Inheritance Tax, you could leave yourself short of the funds you need in retirement.
It’s a tricky balance, but one we can help you achieve.
Supporting even the most complex cases
Think of your Specialist Financial Adviser like your GP, on-hand to provide regular check-ups to keep you in good financial health.
However, just like your health, there are times you may need additional support. That's where our Specialist Financial Planners come in. They'll take on any particularly complex estate planning cases, offering advice that's right for your unique circumstances.
If your Adviser thinks you need secondary support, they'll refer you for one-off advice. You can also find out more about the Planners and request to speak to one directly.
Frequently asked questions about appointments
Your adviser will explain any charges as part of an initial conversation. This conversation is at no charge, and allows you to agree the areas in which you would like our help and advice.
You will only be charged once you have agreed the services you wish to receive from us, and the associated costs.
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Still have questions about estate planning and IHT?
Improve your understanding of the key issues by reading the comprehensive guides below.