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Glasses on last will and testament
Further Details
elderly couple
Lasting Power of Attorney
Lasting Power of Attorney is designed to protect you in the event that, you lose mental capacity. Making a Lasting Power of Attorney allows you to choose someone you know and trust to make important decisions on your behalf. Mental capacity is the legal term given to the ability to make decisions, losing mental capacity may be due to dementia, a brain injury or stroke. Lasting Power of Attorney gives another person the legal right to act on the Donor’s behalf. The person receiving this legal right is referred to as the Attorney.

Estate Planning


Estate planning is a collective term used for a series of preparational tasks with the sole focus of managing an individual's asset base in the event of incapacitation or death. It also includes the settlement of inheritance taxes. Due to its complex nature, Berkeley Private Wealth utilises highly experienced lawyers who specifically specialise in estate law for real peace of mind. Their advice covers all areas from the simplest to the most complicated of matters, to protect our client's assets for many generations, not just one lifetime. Their approach uses a tried & tested combination of Wills, Trusts and Powers of Attorney to cover the most common threats to our client asset base.
Clients can feel secure in the knowledge that professional specialist advice is provided by our independent Legal Services partners, who have 15 years of experience in Estate Planning, Tax & Trusts.
Estate planning is an on-going process, it is an essential component for individuals with a measurable level of assets. As life progresses, goals accomplished and assets are gained; estate plans should be reviewed to move in line with new goals. Lack of adequate planning is one of the most common reasons for generational wealth loss. As inheritance tax is 40% it is easy to see how generational wealth is eroded substantially. Berkeley Private Wealth Estate Planning is for those people who want to fully protect themselves and their family’s future inheritance. It is for people who have worked hard to create wealth, those who want to protect it as fully as possible now but also for the future generations to come.
Services include
  • Wills
  • Trust
  • Children's Flexible Trust
  • Wealth Management Trust
  • Legacy Trust
  • Disabled / Vulnerable Person Trust
  • Right to Occupy Trust
  • Lasting Power of Attorney
  • Funeral Plans
  • Business Wills
  • Bloodline Planning
  • Access to Experts in Wills & Trusts Both in the UK & Internationally
Funeral Plans
The average cost of a funeral has increased by 58 percent in the last seven years, outstripping inflation, and often leaving families with a huge unforeseen bill. One of the key benefits of funeral plans is that they are guaranteed to cover the costs of the agreed funeral arrangements, regardless of any future rise in price thereby fixing costs at today's prices.
Inheritance Tax
On April 2017 the new inheritance tax rules were introduced which allowed an individual to pass more of their estate free from inheritance tax (IHT) when they died but only to direct descendants. The threshold at which an estate becomes potentially liable for inheritance tax at 40% is £325,000. Since April 2017, the start of the 2017/18 tax year, individuals were entitled to an additional £100,000 tax-free 'family home allowance' which could be used against the value of their property if left to children or grandchildren. It is important to note, that an individual will not qualify for the increased nil-rate band if they have assigned their siblings or any other relations to inherit their family home. This is because the rule only applies to direct descendants.
The additional £100,000 allowance will rise annually to £125,000 in the 2018/19 tax year and to £150,000 in 2019/20 tax year, before reaching £175,000 in tax year 2020/21. The additional allowance can also be transferred to the surviving spouse if it wasn't used up. This means, in 2020/21 a married couple could potentially leave a combined estate up to £1 million without any inheritance tax liabilities. It is important to remember that the family home allowance only applies to the main home and not to any other properties owned. Estates worth more than £2 million will see the family allowance clawed back at a specific rate.
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