We all have an estate. You don't need to be super wealthy to fall into the category of having an estate. Your car, jewelery, artwork, home furnishings, bank account, your business if you have one and your property all make up your estate.
Estate planning is working out what happens to it all when you die. Some may think well my partner will just inherit it all and they can divide stuff up, well that's not always the case.
Along with this careful planning of your estate can help soften the blow of Inheritance Tax on your loved ones.
Unmarried couples don't have automatic rights to your partners possessions, money or property.
Cohabiting couples don't have the same right to state bereavement benefits as married couples.
Specialist trusts can also help assist with protection of your property. These trusts can benefit you and your spouse (whilst alive) when it comes to care costs and protection of your families inheritance.I Need Advice