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Will & Trust Planning - Case Study

Wills & Trust Planning Case Study

Panoramic Wealth Management represented the interests of a daughter with lasting power-of-attorney in relation to her father’s Care Fees Planning and on his death, to issues concerning the proceeds from his estate.

Her father’s Will divided the assets 50% to her [the only child], and 25% each for two grandchildren – including a portfolio of shares and a house. Panoramic was able to provide advice on a number of options: 

  • Which Investment Funds should be cashed in to meet Inheritance Tax liabilities. 
  • How liquid assets should be dispersed. The daughter received the planned 50% to supplement her own investment and pension arrangements. Her 21 year old daughter’s inheritance was invested into her own portfolio including an ISA and she was also able to purchase her first car without finance. The inherited monies of the son (considered a minor beneficiary as under 18 years old and therefore NOT able to receive the funds directly] were invested by the trustees to be held in trust – in this case his parents.
  • Taxation of trusts can be a complex area and we recommended Investment Bonds be used as the investment medium within the trust as eventually they are a tax efficient way of passing funds directly to the beneficiary.
  • We also advised that given the high income levels possible from renting residential property at a time of low interest rates, the house should not be sold at present. The longer term plan will see the property sold and two apartments purchased – one to supplement the daughter’s retirement income, the other to be shared by her children to help them onto the property ladder.

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