Estate Planning

wallace quinn

Will Services Scotland joined the Wallace Quinn family in 2021.

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transferring your assets

Estate Planning involves taking advantage of the many legitimate opportunities afforded by the Government to ensure a smooth transfer of your assets to your beneficiaries.

On this page we’ll introduce some of the mechanisms that you may wish to consider when planning the transfer of your estate.

Planning for Long Term Care

Many people are worried, as they grow older, about what will happen if they need to go into long-term care.

Pre-Paid Funeral Plans

The main benefit of our funeral plans is that they guarantee to cover the cost of the funeral director’s services regardless of how much these are at the time they are required. The emotional benefit to your family at a difficult time will not be forgotten. Taking away the burden of making arrangements and avoiding distressing arguments in trying to second guess your wishes, are considerable. For the last 15 years funeral costs have increased approximately ten percent per year. That means an average £3500 funeral today will cost £7000 in 7 years.

Children’s Trusts

Young children or grandchildren can on occasions inherit substantial amounts from an estate. The legal age of inheritance in Scotland is only 16. Placing their inheritance in a trust up to 25 can secure those funds for a child’s future and avoid them squandering their inheritance at a young age.

Family Protection Trust

A FPT can potentially help you avoid executry costs and care costs, ensures your children do not inherit at the wrong time, avoids creating or compounding an Inheritance Tax liability for children, can help to minimise Legal Rights claims and Incapacity issues and helps avoid sideways disinheritance.

Protective Property Will

In the event a surviving partner was to remarry, the Protective Property Will ensures your share of the home will be safeguarded for your children’s inheritance which in turn can help protect your share of the property from care costs.

Office, home or digital appointments

We all lead busy lives and here at Wallace Quinn we offer appointments in a variety of ways

Office

We have offices in Livingston and Glasgow with spacious, well ventilated meeting rooms.

Digital

We can have meetings virtually by Whatsapp, Zoom or Microsoft Teams video conferencing. Or we can use the telephone

At Home

When required, we can also visit you at home to sign important documents
we'll use this to contact you in the first instance.