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Assured Private Wealth, Estate Planning Services in Southampton and beyond

Our team of inheritance tax financial consultants provide independent financial advice on estate planning, pensions, wills and trusts together with insurance and general protection.

FCA Regulated Estate Planning from Southampton and beyond

Our aim is to provide expert estate planning advice along with other services such as pensions advice and inheritance tax planning catering to your specific needs. The initial introduction process allows us to gather information about your finances, prospects and hopes for the future. Working together, we provide a practical plan allowing you to achieve your long-term objectives while also setting short to medium-term goals.

Long-term planning with pensions, wills and trusts ensures you benefit from tax breaks and minimise your tax liabilities. A flexible approach allows us to adapt to your changing situation and the ever-changing mix of financial regulations while not losing sight of your long-term aspirations.
About Us

Importance of Estate Planning: Securing Your Future and Legacy

Estate planning is a crucial yet often overlooked aspect of personal financial management. It involves the preparation of tasks that serve to manage an individual's asset base in the event of their incapacitation or death. This planning includes bequeathing assets to heirs and settling estate taxes. While it might seem daunting, comprehensive estate planning ensures that your wishes are honoured, your loved ones are protected, and your financial legacy is preserved.

understanding Estate Planning

At its core, estate planning is about ensuring your assets are distributed according to your wishes upon your death. It encompasses several key elements:

Will Creation: A will is a legal document that outlines how your assets will be distributed after your death. It also names an executor, who is responsible for managing your estate, and can include guardianship arrangements for minor children.

Trusts: Trusts are legal arrangements that hold assets on behalf of a beneficiary or beneficiaries. They can help reduce estate taxes, protect your estate from lawsuits, and ensure your assets are managed according to your wishes.

Power of Attorney: This legal document grants a trusted person the authority to make decisions on your behalf if you become incapacitated. There are different types of power of attorney, including financial and medical.

Living Will: A living will, or advance directive, specifies your wishes regarding medical treatment if you become unable to communicate those decisions yourself. This can include preferences for life-sustaining treatment and end-of-life care.

Why Estate Planning is Essential

Control Over Your Assets

Estate planning allows you to decide how your assets will be distributed. Without a will or trust, the state will make these decisions, which may not align with your wishes. Proper planning ensures your assets go to the people and causes you care about most.

Reducing Taxes

Through strategic estate planning, you can minimise the tax burden on your estate. Trusts and other estate planning tools can help reduce inheritance taxes, ensuring more of your wealth is passed on to your heirs.

Avoiding Probate

Probate is the legal process through which a deceased person's will is validated and their estate is distributed. It can be lengthy and costly. Proper estate planning can help avoid probate or expedite the process, saving your heirs time and money.

Protecting Beneficiaries

Estate planning isn't just for the wealthy; it ensures all beneficiaries, including minor children or those with special needs, are cared for. It can prevent family disputes and ensure your wishes are clearly communicated and legally upheld.

Steps to Effective Estate Planning

1. Inventory Your Assets

Make a comprehensive list of your assets, including properties, investments, insurance policies, and personal possessions. This inventory will form the basis of your estate plan.

2. Determine Your Wishes

Consider how you want your assets distributed and who should make decisions on your behalf if you are unable to. Discuss these wishes with your family and loved ones to ensure everyone understands your intentions.

3. Consult a Professional

Estate planning can be complex, involving legal and financial expertise. Consulting a solicitor or financial planner who specialises in estate planning can ensure your plan is comprehensive and legally sound.

4. Regularly Update Your Plan

Your circumstances and assets can change over time. Regularly review and update your estate plan to ensure it continues to reflect your wishes and current laws.
I was happy with the service and correspondence between Paul and myself, he was very professional throughout the process. Paul supplied all the information required, following our telephone conversations.
Judy C
Professional and friendly service from experienced people to help you make the right choices and complete the important paperwork.
Tim P

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Call us for a friendly chat on 02380 661 166 or email:

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Estate Planning FAQs

What is estate planning?

Estate planning is the process of organising and managing your assets during your lifetime and determining how they will be distributed after your death. It involves making decisions about your estate, including property, finances, and personal belongings, to ensure your wishes are honoured and your loved ones are provided for.

Why is estate planning important?

Estate planning is crucial because it helps to:

- Ensure your assets are distributed according to your wishes.
- Minimise taxes and legal fees.
- Protect your loved ones from financial and legal burdens.
- Provide for minor children or dependants.
- Prevent family disputes and confusion.

How can Assured Private Wealth assist with estate planning?

Assured Private Wealth offers comprehensive estate planning in Southampton and beyond to help you create a tailored plan that meets your unique needs and goals. Their experienced advisers can guide you through every step of the process, from drafting wills to setting up trusts and other legal instruments.

What are the key components of an estate plan?

An estate plan typically includes:

- Will: A legal document that outlines your wishes for asset distribution, guardianship of minor children, and other personal matters.
- Trusts: Arrangements that allow you to transfer assets to beneficiaries under specific conditions.
- Power of Attorney: A legal document that grants someone the authority to manage your affairs if you become incapacitated.
- Healthcare Directives: Instructions for medical treatment preferences and appointing someone to make healthcare decisions on your behalf.
- Beneficiary Designations: Specifying who will receive assets from life insurance policies, retirement accounts, and other financial instruments.

What are the benefits of having a will?

A will ensures that your assets are distributed according to your wishes and can prevent lengthy and costly probate proceedings. It also allows you to appoint guardians for minor children and express your preferences for funeral arrangements.

What happens if I die without a will?

If you die without a will, your estate will be distributed according to the laws of intestacy. This means that the state will decide how your assets are divided, which may not align with your wishes. It can also lead to delays, increased legal costs, and potential disputes among family members.

How can trusts benefit my estate plan?

Trusts can offer several benefits, including:

- Avoiding Probate: Assets held in a trust can be transferred directly to beneficiaries without going through probate.
- Privacy: Trusts are not public records, so your estate distribution remains private.
- Tax Efficiency: Certain types of trusts can help reduce estate and inheritance taxes.
- Control: You can specify conditions for how and when your assets are distributed, providing control over your estate even after your death.

Why is it important to appoint a power of attorney?

Appointing a power of attorney ensures that someone you trust can make financial and legal decisions on your behalf if you become incapacitated. Without a power of attorney, your family may need to go through a lengthy and expensive court process to gain this authority.

What is a healthcare directive, and why do I need one?

A healthcare directive, also known as a living will, outlines your preferences for medical treatment if you are unable to communicate. It also allows you to appoint someone to make healthcare decisions on your behalf. This ensures your medical wishes are honoured and can alleviate the burden on your family during difficult times.

How can estate planning minimise taxes?

Effective estate planning can help minimise taxes through strategies such as gifting assets, setting up trusts, and making use of available tax exemptions and reliefs. Assured Private Wealth can provide expert advice on tax-efficient planning to preserve more of your estate for your beneficiaries.