Making your Will is an important step to ensure that your family is protected in the event of your death.
However, there is actually a great deal more that you can do.
Estate planning has many benefits. You can protect you family financially in many ways, primarily through specialist protection policies.
It makes sense for you to consider these options at the same time as you are thinking about your Will and Lasting Powers of Attorney because they are interlinked.
- How much inheritance tax will your estate pay?
- What if you need long term care?
- How will your family pay for your funeral?
- What happens if you fall ill?
Here are just some of the protections that you might like to think about.
- Life assurance which pays a lump sum at your death
- Life assurance which can mitigate your inheritance tax liability
- Serious and critical illness policy which pays if you contract cancer or other serious illnesses
- Funeral plans which cover the cost of your funeral
- Care fee plans, which can be used to mitigate the cost of care, both in your existing or residential home
- Inheritance tax mitigation trust, which can be used to protect your home or pension