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Asset Protection

ASSET PROTECTION

Protecting Your Service

Our Mission: Helping you Create Wealth

At Silks we aim to help you maximise your assets through tax strategies, Wills and Trust Funds

Tax strategies

When deciding to become a property investor, it is imperative to have a strategy. Once an investment
strategy has been created, we at Silks can then help you as an investor to create a tax efficient strategy,
complete with an exit plan to it your particular needs. At Silks we aim to work as a partnership with our
landlords and investors to help advise them on how to protect investments through trust funds and wills,
minimising their inheritance tax and preserving their investments for generations.

Wills

A Will is a legal document declaring a person’s wishes regarding the disposal of their estate at the time
of their demise. Your estate consists of your property and possessions at the time of your demise (less any
outstanding debts and liabilities). However, certain assets (e.g jointly held property, life assurance and
pension benefits) may not form part of one’s estate for the purposes of distribution through one’s Will.
Therefore, it is important to consider which assets pass through the Will and which do not, as they could have
a significant impact on the intended distribution to the various beneficiaries of your estate.

Each and every one of us have some level of worth, making it important for each and every one of us to make a will.
The absence of a will at the time of demise can result in relatives and friends facing severe difficulties, both
financially and emotionally at an equally difficult time.We at Silks, will work with you to guide you through the
process of writing your Will and ensuring that your final wishes are executed accurately and sympathetially.

Without obtaining expert tax planning advice at the time of preparing one’s Will, many people end up with a substantial
tax liability on their death, considerably reducing the value of the estate passing to their chosen beneficiaries. The
continued rise in property prices means that more and more people are crossing the threshold for inheritance tax, after
which inheritance tax is charged at an extensive 40%.

The law relating to inheritance tax is constantly evolving and, with our experience in inheritance tax planning, we can assist
you to mitigate your inheritance tax liability. Often the liability can be reduced to zero but, if not, we are confident that
tax savings can be obtained.

Trust Funds

Moreover, it is not just tax that needs to be considered. You can direct the succession of particular assets through the use of
trusts in a manner that ensures that beneficiaries can benefit from assets without the asset being frittered away.

The setting up of a trust is often the most suitable manner to govern the succession of assets or to reduce tax liabilities or
third party claims against assets. For instance, you may wish to gift a home to your child or children but fear that it may be
lost by the financial imprudence of the child, or via factors beyond your control such as a claim made by a spouse on the divorce
of the child. Trusts can be used to ensure that assets are protected against the claims of third parties.

Trusts can be created during lifetime as part of a “lifetime” planning strategy, or on death through what are known as Will Trusts.
In either case, we can explain to you exactly what type of trust is most suitable for your particular needs and what are the benefits
of using such trusts. We also have experience in managing trusts and can either work with you regarding the management of the trust or
effectively manage the trust on your instruction.

For further details on any of the above or to arrange a consultation on asset protection, please feel free to
contact Ayub directly at ayub@silksestates.co.uk.

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