WEBVTT

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Hi, I'm Lee Platt, Director, Wealth Planner, 
with Barclays Wealth and Investment Management.  

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Today, we're talking: estate planning.
Estate planning is an important consideration for  

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everyone. It’s about structuring your estate 
and planning ahead in line with your wishes, so  

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there are no uncertainties about how your assets 
are managed in the future. Estate planning can  

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also help minimise the effect of tax; and ensure 
that your desired beneficiaries are looked after,  

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especially young children or any dependants who 
may be vulnerable and need special care.

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Most people have an idea of what they would 
like to happen to their wealth and that their  

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wishes are taken into account and acted upon.
However, this may not always be the case.  

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There are actions which you would need to 
take to ensure that your wishes are documented  

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and acted upon in the event of death, 
or to take into account any specific  

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wishes that you may have for passing on wealth 
whilst you are still alive. These could be  

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facilitated by putting in place a Will and 
could also require the use of gifts, Trusts  

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and other vehicles, depending on your wishes. If 
you were to become incapacitated during lifetime,  

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then ensuring that your affairs can be managed on 
your behalf is also important. Estate planning can  

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also help to reduce the impact of tax 
on the estate and for beneficiaries.

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The distribution of your estate may not be 
in line with your wishes and dying Intestate  

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(without a valid Will) would follow a set path 
of succession, which may not reflect what you  

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would actually want to happen. You may not be 
aware of the impact of taxation on your estate  

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and the mechanics of how and when tax 
needs to be paid. It might be that you  

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become unable to manage your own affairs, which 
can cause significant stress and difficulties.
  

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Most people don’t realise how much 
tax may be payable upon their death and so often  

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fail to plan adequately for it. Working with a 
Wealth Planner to establish legacy plans (who  

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will benefit, when, and how) brings peace of mind, 
and increases your legacy.
  

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The Money Advice Service (MAS) has 
great information on their site.  

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Citizens Advice Bureau is 
also a fantastic resource.  

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And If you’re a Barclays Wealth client, 
speak with your Wealth Manger. It is important to  

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note though that Barclays does not offer tax 
advice. Look out for the second part of estate  

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planning where we will take a more in-depth look 
at the options and types of planning to consider.