Individuals

Retaining wealth and providing for your family can be a key concern. Putting in place solutions to protect the assets you have spent years building up, can be complicated, but it is key to ensuring your family are provided for now, and after you have gone.

If you would like to grow and retain your assets for your family, Blake Morgan can help you by advising on all areas of asset protection.

Tax structuring

Tax planning can help ensure your assets are structured to grow, whilst making use of valuable reliefs. Blake Morgan's specialists can help protect properties as part of your asset portfolio, whether that's held personally, in a family investment company or in a trust, and we can advise on restructuring where necessary. We can advise on the right structure for you and your family, whilst taking in to account taxes such as SDLT, the annual tax on enveloped dwellings and capital gains tax.

Your Will is a tool to ensure assets pass on to loved ones in the most tax efficient way. In conjunction with your financial adviser and accountant, we can help structure your assets and draft your Will, to minimise taxes due both during your lifetime and on death. We can advise on changing asset ownership, charitable giving or how to structure investments for optimal tax planning.

If you are non-domiciled and have assets in the UK, the tax authorities will seek inheritance tax and capital gains tax from you. We can advise on appropriate planning to minimise tax paid during your lifetime and on death.

Protecting your assets

In many cases specialist advice can save very substantial amounts of tax. This advice can range from a simple 'health-check', such as advice on whether your family will be subject to an inheritance tax charge in the event of your death, to sophisticated tax planning arrangements to minimse the tax due, and therefore pass more to your beneficiaries.

With lots of moving goal posts to take in to the equation such as social care, the new residence nil rate band (RNRB) on family homes passing directly to children, and the changing treatment of UK non-domiciled individuals, estate planning, there is lots to consider.

Our team has the flexibility to tailor advice to any individual's circumstances. We can consider lifetime tax planning to ensure your assets grow and are passed down to your family efficiently, and we can advise families on deeds of variation where a Will needs to be amended post death.

Preserve wealth through marriage

With blended families becoming more common, usually after a second marriage, preserving wealth is now firmly on the family agenda. From new relationships to step children and how assets should be divided, it can be overwhelming for those in this position. Being prepared for the expected and unexpected is key. We often advise couples and families on asset structuring and what documentation needs to be in place in the event of a relationship breakdown.

Many parents also often want to ensure the wealth they leave to their children in their estate planning, will not be undermined if their child suffers a relationship breakdown with a spouse. We can guide you to help ensure through the generations, wealth is passed down to who you intended.

More than your personal affairs…

Blake Morgan takes pride in ensuring clients benefit from a rounder perspective of advice regarding all aspects of family life, to ensure clients retain and grow their assets. We work in conjunction with our colleagues in the corporate sphere to ensure your personal and business interests are protected. We ensure no area of a client's business or personal affairs should be compromised.

For further information on how Blake Morgan can help you grow and retain assets, please contact us.

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