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Protecting the family and assets

Personal Wealth

Panoramic Wealth Management is not alone in believing that individuals should make financial provisions for their partners and children should they die. Where we are different is that we’re also able to help and advise people to protect their capital and assets from the effects of Inheritance Tax.

Life Protection

Many people make provision for their mortgage to be re-paid should they die. But many don’t make further provision and fail to recognise the everyday expenditure their dependents will continue to pay – utility bills, food, clothing, holidays, clubs, school fees and many more.

A life cover policy is an ideal way to protect family income should the breadwinner(s) die. What’s more, the policy can be written in trust meaning the funds can be passed to the beneficiaries without any of the proceeds being liable to Inheritance Tax and without the need to obtain probate.

Inheritance Tax and gifts

Some people like to make cash gifts to beneficiaries whilst they are still alive, or make preparations for any inheritance tax liabilities on the total estate that may befall their beneficiaries.

Gifts to children

Beneficiaries of gifts are liable for tax if the donor dies within 7 years of making the gift. This can be protected against.

Inheritance Tax

Individuals can limit the impact of inheritance tax payable by the Estate by planning to, in effect, pay the costs in instalments, based on an estimate of their potential inheritance tax liability.

To learn more about how Panoramic Wealth Management can help you complete your Personal Wealth journey contact us now on 01892 559 555.