Gold Plan

Gold Level Protection provides comprehensive and lifelong asset protection. Unlike other levels, which only offer protection after someone has passed away, Gold Level is designed to safeguard your assets now. By utilizing Lifetime Planning, this level of protection ensures that you are covered as soon as the necessary legal documentation such as Wills and Trusts are signed.

Planning well in advance is crucial because time is of the essence. It would be futile to implement a Gold Level plan in an attempt to avoid paying fees if you are entering care next week or know for certain that care will be required in the near future. If you anticipate needing care in the coming years, it’s important to consider the possibility of “asset deprivation” being cited by care providers. You need to be confident that there is no chance of requiring care in ten years’ time. Of course, we all know the unexpected happens, and if this is the case, how would you know that next year you might be run over by a bus? You wouldn’t of course. Gold Level is an insurance against the unknown.

In conjunction with Gold Level plan we need to look at how your assets are held. This is the same as any level Will, but often the amounts are quite large and could be subject to going through Probate. Your understanding of your assets and what will or won’t go through Probate is essential. We use this to recommend certain actions to avoid Probate and to reduce your Inheritance Tax liability. This may involve an Independent Financial or Tax advisor to look at your portfolio if required. This is all part of the plan and is not chargeable.

There are four main ways Wills & Trusts can help you plan for the future, to safeguard and protect you, your assets and your family:

• A Will.  Absolutely Essential in all cases. This helps to determine who gets what when you die. It can contain Trusts within the Will, but these only come into force when you pass
• Family Asset Protection Trust (FAPT). We highly recommend this additional tool when the previous measures are insufficient for your circumstances and wishes. An FAPT protects you from the day you sign it. This is done by putting your asset (usually your home) into a Trust. This means technically YOU no longer own it, the Trust does. Because of this it cannot be subject to a means test or be used to by creditors or in fact anyone who you haven’t names as a beneficiary. It makes no difference to your enjoyment of the property or selling it. This protects 100% of the asset from day 1. There are two levels of FAPT dependant upon your Estate size.
• Lasting Powers of Attorney. Essential for your lifetime personal and financial protection. This is where you appoint trusted individual(s) to manage your Financial and Personal affairs, if you can no longer do it yourself. The Property and Financial LPAs are included in an FAPT cost to protect you. Click here to find out more
• Gifting. If you have a large inheritance, the easiest way to reduce Inheritance Tax is by giving some or all of it to your beneficiaries now. You can give up to £325,000 to each beneficiary, and if you survive at least three years, the tax rate starts to reduce from 40% to zero. After seven years, the gift is not taxable anymore.