Episode 10 - Starting With the End in Mind - How to plan your property purchases and do inheritance tax planning - with Andrew Drakes

Host: Suzi Carter Episode Title: Starting With the End in Mind - How to plan your property purchases and do inheritance tax planning - with Andrew Drakes

In this episode, Suzi Carter and Andrew Drakes delve into the complexities of inheritance tax planning, particularly in relation to property investment. They discuss the importance of early planning, the role of wills and trusts, and the various types of trusts available. 

Andrew emphasizes the need for a solid foundation in estate planning to avoid future headaches for heirs. The discussion also covers the implications of business trusts, the differences between holding and selling assets, and the critical role of life insurance in managing inheritance tax liabilities. 

The episode concludes with a call to action for listeners to seek professional advice to ensure their estate planning is effective and tailored to their individual circumstances. ___________________________________________________________________________________

What You’ll Learn in This Episode:  

1. Understanding Inheritance Tax Liabilities

• How inheritance tax affects property investors
• Key factors that determine tax liability
• Strategies to reduce the tax burden

2. The Importance of Wills and Trusts

• Why a will is essential for estate planning
• How trusts can protect assets and reduce taxes
• Common mistakes to avoid when setting up a will or trust

3. Types of Trusts and Their Benefits

• Overview of different trust structures
• How each trust type impacts inheritance tax
• Choosing the right trust for your estate planning goals

4. The Role of Life Insurance in Estate Planning

• How life insurance helps cover inheritance tax liabilities
• Structuring policies for maximum tax efficiency
• Integrating life insurance with wills and trusts

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Key Takeaways:

• Inheritance tax planning is crucial for all investors
• Trusts can protect assets from inheritance tax.
• Selling assets requires different tax considerations than holding them.
• Life insurance can provide necessary liquidity for tax payments.
• Understanding tax-free allowances is essential for estate planning.
• Professional advice is key to effective estate planning.

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Learn More from This Episode’s Guests:

Andrew Drakes is a fully STEP-qualified estate planner with a Diploma in Financial Planning and over 10 years of industry experience. Specializing in trust and inheritance tax planning for high-net-worth clients, Andrew combines expertise in estate planning with a strong background in financial services.  

Known for an analytical and solution-focused approach, Andrew thrives on solving complex estate planning challenges. Rather than relying on "off-the-shelf" solutions, he takes pride in working with CTT Private Client, where he has the freedom to think creatively and develop tailored strategies that best serve each client’s unique circumstances.  

Empathy is central to their practice. As a people-oriented professional, Andrew takes the time to truly understand clients' needs, ensuring their estate plans are personalized, effective, and aligned with their long-term goals.

✉️ [email protected]  📳01926 514 390 Ext 150

Use the code CPAINTRO to get a free fact finding call with Andrew