Frequently Asked Questions

Don’t I need a solicitor to prepare such legal documentation for me?

The simple answer is no you do not. There are very few legal matters in England & Wales that must be dealt with by a solicitor. We believe that specialist firms like ours, that concentrate on the planning and execution aspects of what lawyers would call “Private Client” work, can in many circumstances provide a more comprehensive and thorough level of service than most solicitors can. This is especially so when you add into the mix both the regulated and non-regulated financial planning and wealth management aspects, again which most lawyers cannot or do not provide. We believe that our service is more comprehensive than most solicitors can provide whilst at the same time very often having an overall lower cost. 

Can’t I just make a Will myself?

Yes, you can, and this is perfectly fine. However, there are several traps to avoid and a simple self-made Will would rarely include the provisions that we would normally recommend around things like Trusts, equalisation of estates, making use of Nil Rate Bands, generational planning, the appointment of the correct Executors and Trustees, the exclusion of specific parties, the appointment of Guardians, dealing with business assets, proper legacies and letters of wishes to name but a few.

A simple self-made Will is generally going to be better than no Will at all, however what we provide is a comprehensive and bespoke set of legal documentation within an overall planning framework designed to meet with your objectives and including the very latest recommended legal wording and clauses as appropriate to your circumstances. Your Will, along with any other legal documentation put in place, will then also be subject to regular and ongoing review should you choose to subscribe for this service.

I have seen fees quoted for Wills in the region of a couple of hundred pounds or even free when done through certain charities, why are Genus Financial & Estate Planning fees so much more than this?

Because what we do is much more than just prepare simple mirror Wills. As per the question above; we provide a comprehensive planning and advisory service that is designed around you and your specific objectives, taking full account of all your assets, liabilities, health and family situation. The documentation prepared will be bespoke and will encompass much more than just mirror Wills.

Do you offer a safe documentation storage solution?

Yes we do via our carefully chosen partners in this field.

Do you provide comprehensive Probate and Executor services?

Yes we do, via our carefully chosen partner, Countrywide Tax & Trust Corporation Ltd.

Can you help with Long Term Care Planning?

Yes we can, not only in the areas of legal documentation and financial planning but also for Financial Conduct Authority regulated matters via our regulated business Affinity Integrated Wealth Management Ltd.

I have heard that it is possible to give my house away and still live in it thereby avoiding inheritance tax.

The simple answer to this question is no, it is not possible if this is your main residence and you are continuing to live in and benefit from the property. This would fall under the “gift with reservation” rules.

There are however some planning measures that can be taken with property involving the use of Trusts, Severance of Tenancy and gifting that can impact this situation. These are however complex areas of advice and it is important that individual circumstances and requirements be taken account of as very often solving one issue will in itself create another issue.

About Genus

Genus Financial & Estate Planning grew out of a regulated Financial Planning practice that has been operating in Kent for almost 20 years now.

We are often asked questions on areas outside of the normal regulated activity of dealing with Pensions and Investments. Genus was born to provide a more complete service.

 

Our Services

Genus Financial and Estate Planning provides advice and services related to Wills, Trusts, Estate Planning, Lasting Powers of Attorney, Inheritance Tax Reduction, Legacy Planning and all of the associated legal works that accompanies these services.

If you need assistance in any of these areas, do get in touch with us today.

 

Resources

We understand that financial and estate planning can be a minefield of complicated terms and policies so in order to assist you in your understanding, we have put together a comprehensive Resources section.

Here you will find explanatory articles on all sorts of related subjects along with a glossary of terms for easy reference.

 

FAQs

Like any business there are many questions that come up time and time again. In our Frequently Asked Questions section, you may well find the answer to that burning question if we have been asked it frequently.

If the answer to your question is not present, do get in contact with us today.

 

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