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Some Helpful

Frequently Asked Questions

What is estate planning, and why is it important?

Without proper estate planning, families risk losing up to 40% of their hard-earned wealth to inheritance tax, legal fees, or disputes. Did you know that unresolved estates take on average 9-12 months to settle, leaving your loved ones in financial limbo? At Family Wealth Legacies, we simplify this daunting process into a fast, affordable, and stress-free experience, ensuring your family is protected while saving you valuable time and money.

What happens if I don't have a will?

If you pass away without a will, the government dictates how your assets are distributed, often ignoring your actual wishes. Over £8 billion in the UK remains unclaimed due to unresolved estates. Imagine your family losing your wealth, or being forced into months of legal disputes while dealing with grief. Family Wealth Legacies makes it incredibly easy to create a legally binding will online - fast, secure, and affordable.
Read more: https://family-wealth.co.uk/importance-of-wills/

When should I update my will or estate plan?

An outdated will is like a ticking time bomb. Did you know that over 50% of wills in the UK become irrelevant after major life events such as marriage, divorce, or having children? By acting quickly, you can avoid costly complications later. At Family Wealth Legacies, we help you update your estate plan in a simple, quick, and affordable way - keeping your loved ones secure no matter how life changes.

Can I reduce inheritance tax on my estate?

Inheritance tax in the UK is a staggering 40% of your estate’s value over the threshold of £325,000. Without proper planning, families are often forced to sell cherished assets, including the family home, just to pay this tax. At Family Wealth Legacies, we offer proven strategies, like trusts and lifetime gifts, to drastically reduce or even eliminate your inheritance tax burden - all with ease and affordability.

What is a trust, and how does it work?

A trust protects your assets and ensures they are distributed according to your wishes, bypassing inheritance tax and legal delays. Without one, your estate could face months of probate and hefty taxes. At Family Wealth Legacies, setting up a trust is straightforward and affordable. We handle the complexities, giving you peace of mind while safeguarding your family’s future.
Read more: https://family-wealth.co.uk/lifetime-trusts-secure-your-legacy/

What is probate, and is it always required?

Probate can be a lengthy, expensive, and stressful process. Did you know that probate fees can cost up to £6,000, and unresolved cases can take 12-18 months to finalize? For families already facing the probate process, the delays and complexities can feel overwhelming. If you’re dealing with probate right now, don’t worry - Family Wealth Legacies is here to help. We specialize in guiding families through every stage of probate, ensuring the process is as smooth and cost-effective as possible. Whether you’re planning ahead to avoid delays or already navigating probate, we offer expert advice and tailored solutions to minimize costs, resolve complications, and protect your family’s legacy. Avoid unnecessary stress and let Family Wealth Legacies simplify this process for you - saving time, money, and heartache.
Read more: https://family-wealth.co.uk/hidden-cost-of-neglecting-probate/

How can I plan for long-term care?

Failing to plan for long-term care can have devastating financial consequences. Did you know that care home costs in the UK range from £1,000 to £2,000 per week, with many families forced to sell their homes to cover these expenses? Over 30% of families face significant financial hardship, and for some, the family estate is completely wiped out due to unplanned care costs. At Family Wealth Legacies, we specialize in strategies to protect your wealth and estate from the impact of care costs. With proper planning, we can help you safeguard your assets - ensuring your loved ones aren’t burdened with unexpected expenses and that your home and savings remain secure. Planning for long-term care doesn’t have to be complicated. With our expertise, we make the process simple, affordable, and effective - giving you peace of mind knowing your future is protected. Don’t wait; let us help you secure your legacy today.

Are online wills and estate planning services reliable?

Online services are not only reliable but also save time, allowing clients to focus on the nuances of their estate planning needs. With virtual consultations, clients can conveniently work with estate planning attorneys and advisors to ensure every detail is professionally handled. This approach eliminates the need for in-person meetings while maintaining the same level of expertise and thoroughness. At Family Wealth Legacies, we have streamlined the process to make online estate planning simple, efficient, and comprehensive, providing all the tools and professional support needed to handle even complex estates securely and effectively.

How does inheritance tax insurance work?

Inheritance tax insurance protects your family from the financial shock of losing up to 40% of your estate. Without it, your heirs may be forced to sell assets or homes to cover the costs. At Family Wealth Legacies, we guide you through this process with ease, helping you decide if it’s the right solution to safeguard your wealth for future generations.
Read more: https://family-wealth.co.uk/inheritance-tax-insurance-protect-family-future/

Can Family Wealth Legacies handle international estate planning?

Yes, international estates often face additional legal and tax challenges that can drain wealth and cause confusion. With 50% of UK families owning international assets, having an experienced advisor is crucial. At Family Wealth Legacies, we specialize in simplifying even the most complex cross-border estates, ensuring compliance with multiple jurisdictions while keeping the process smooth and efficient.