Page 60 • The HERALD • 13th July 2023 v THE HERALD - SUPPORTING LOCAL BUSINESSES v ASK A PROFESSIONAL Writing a will is one of the most important financial decisions you can make. By writing a will, you can determine exactly where all of your money and possessions go when you pass away. 5 ways obtaining nancial advice at the time of writing your will may help you, your estate, and the legacy you wish to leave… 1. Inheritance Tax If your estate is nearing or over the Inheritance Tax threshold, obtaining sound nancial advice can help you assess exactly what your assets are worth and what your potential Inheritance Tax liability will be. 2. Reducing your Inheritance Tax liability though gifts during your lifetime Making gi s during your lifetime can be an acceptable way to start passing some of your wealth to your loved ones, without an Inheritance Tax liability. ere are various ways in which you can take advantage of lifetime gi ing, however this should be approached carefully and advice sought. 3. Potentially Exempt Transfers (PETs) Unlike lifetime gi ing mentioned above, you are able to give away more than your gi ing allowances. ese gi s are subject to Inheritance Tax for seven years from the date of the gi , but then will fall outside of your estate. 4. Utilising Life Cover If you are expecting your estate to be liable to a large Inheritance Tax bill, it is possible to obtain life cover to settle the Inheritance Tax bill. 5. Giving to Charity Perhaps you wish to leave a legacy to Charity. By leaving at least 10% of your net estate to charity, will reduce your Inheritance Tax rate from 40% to 36%. So it is more important than ever to seek nance advice when preparing your will. If you have not reviewed your estate for some time, DO IT NOW Contact Heritage Will Writing on 023 8087 9243 to book your review. WHY WRITE A WILL by Heritage Will Writing CITB Supporting the Flutterby Fund for Volunteering Week CITB’s Engagement Team and SAP Team in the Southeast and South Central spent the one of the hottest days of the year at an equine centre in the New Forest, supporting a local charity called the Flutterby Fund during the recent National Volunteers Week. e charity aims to help children with special needs from low income families access therapy and equipment with a new therapy called hippotherapy. e Charity work with children who have a wide range of di erent physical or mental disabilities from 0-19 years of age. O ering a range of di erent therapeutic techniques and their therapists create therapy plans that are unique to each child. You can nd out more about the fund and donate via the Flutterby Fund’s website: www.the utterbyfund. com e team painted buildings, cleared paddocks and planted ower beds for this great charity. CITB is the industry training board for the construction sector in England, Scotland, and Wales. It’s their job to help the construction industry attract talent and to support skills development, to build a better Britain. Visit: www.citb.co.uk to nd out more. Hampshire Development Wins Residential Development of the Year Barratt and David Wilson Homes’ Southampton division has taken home the trophy for its Bedhampton development at this year’s South Coast Property Awards. Harbour Place on Havant Road won Residential Development of the Year for its attractive, well-thought out design, surrounded by open space and featuring the latest modern energy-e cient technology that make the homes cheaper to run. e South Coast Property Awards recognise the contributions of agents, developers, planners, consultants, property lawyers, and dealmakers to the success of the construction industry. Harbour Place was shortlisted in May 2023 for enhancing and supporting the environment while allowing its residents to live in harmony with nature. With more than 30.5 acres of green space, the beautiful development is home to 31,000 bee-friendly planted shrubs and trees, 15,682 new sapling hedgerows, 9 acres of wild ower meadows and 6 biodiversity areas with ponds. e award was presented at a prestigious ceremony on ursday 8th June at the Hilton at the Ageas Bowl in Southampton and the team were thrilled to take to the stage to collect the winner’s trophy. Barratt and David Wilson Homes have 11 active developments across Hampshire, Dorset, West Sussex, and the Isle of Wight. For more information on new developments in Hampshire, visit: Harbour Place, Pebble Walk and Forest Walk.
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