Clients We’ve Helped – Protect Family Wealth

By Kieran Drew
In February 22, 2018
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Fred & Sheila Clarke

Objective Protect Family Wealth

  • Daughter, Susan (Married) has a son, George
  • Son, Mark (Partnered) has a daughter,
  • Poppy from a previous relationship
  • Fred & Sheila dislike their Son-in-law

 

The Solution

After advice from us, we created Wills for Fred & Sheila that passed their £950,000 estate into a Family Trust on their deaths to protect their hard earned wealth and to ensure that it would pass down to the next generation in the most tax efficient way.

The Outcome

Mark & Susan were both beneficiaries of their parents’ estate. Shortly after receiving her Inheritance, Susan’s husband filed for divorce and intended to take half of Susan’s Inheritance. The protection, from the Family Trust that we created, meant her husband was unable to take any of Susan’s Inheritance, saving Susan £237,000.

When Mark tragically passed away the Inheritance included in the Family Trust was then passed down to Mark’s daughter Poppy, free from Inheritance Tax saving £190,000. The Family Trust also protected Poppy from Mark’s partner rewriting her Will to remove Poppy from her intended inheritance, after they fell out. This ensured that £475,000 remained within the family bloodline.

 

If you would like to learn more, come along to one of our upcoming Wills, Trusts and Estate Planning Seminars. A full list of our dates for 2018 can be found at: http://www.redwoodfinancial.co.uk/events/

We look forward to seeing you then!

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Redwood Financial Family Wealth & Estate Planners Ltd is Directly Authorised and regulated by the Financial Conduct Authority. FRN number 774469.

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Telephone: 01489 877547
Email: info@redwoodfinancial.co.uk

Company information

Redwood Financial Family Wealth and Estate Planners Ltd Company Number: 08926661
Registered Office Address: Wellesley House, 204 London Road, Waterlooville, Hampshire,