Daily Archives: October 5, 2019

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Financial Advisors Guide to Estate Planning and IHT Trusts in Northern Ireland

Everyone thought about the future once and what they will leave behind. Sometimes what we build we won’t be able to take care of because of other problems. An estate plan helps you prepare for these situations. Your liabilities or assets will be left behind you someday and you need to assure that they are divided as you wanted.

People don’t have much knowledge about estate planning in Northern Ireland so it is beneficial to browse through the internet and prepare in advance. Preparing a will is the most common estate planning task but there is much more to it. Disability is one situation that can happen where you need to make some medical decisions that can be prepared earlier. You will also need to know who you trust and who will be responsible for your estate taxes.

Why People Need It?

Everyone has some kind of property, it doesn’t have to be a lot but still, it has to be given to someone else after some time. This may include your life insurance, your investments, car, home or anything you own. So the question is what happens to it when you can’t use it anymore. Most common reasons why people build estate plans include avoiding placing a burden on their families, leaving assets to a cause or institution, they want to preserve wealth or they want to make sure their kids are provided for.

Making a will can mean a lot to your relatives because there are different ways … Read More