Why Estate Planning is Important

Why Estate Planning is Important

Harpur Wealth Helps You Plan For Your Family’s Future

Most people don’t think of themselves as financially well off – which doesn’t mean that they don’t have money. Rather it means that their money isn’t yet providing them with the life they want for their family. Harpur Wealth Management exists to help you use your money to make choices about how you want to live your life. You may want to support a university education, make decisions about your retirement, or plan for how your estate will be divided after your death.

What is Estate Planning?

Estate planning is all about protecting the people you love, and guaranteeing that they can make the most of the inheritance you pass on to them. Your ‘estate’ comprises everything you own. This may include your home, your car, bank accounts, possessions, insurance policies, pension. Planning how your estate is divided and used after your death ensures that your family is properly provided for.



What Does Estate Planning Involve?

If you plan to pass on your estate to your family after you die, they could find themselves subject to a hefty inheritance tax bill. The standard inheritance tax rate is 40% of anything over the £325,000 threshold. This is known as the nil-rate band.


The Harpur Wealth Management team can help you to reduce your inheritance tax liability. We do this by advising on the use of structured gifting programmes, trusts and Business Property Relief (BPR). Alternatively we can cover any inheritance tax liability by creating a life policy to be held in trust for your beneficiaries.


Key to effective estate planning is a detailed knowledge of your estate value, including your financial life. Harpur Wealth will confirm and make a record of every aspect of your financial affairs. This includes all your assets, investments, liabilities, children, grandchildren, professional advisers and your will. This record can be updated whenever necessary.

If you would like more information on how to manage your estate in order to protect your loved ones, call our friendly team today on 01234 924620

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