Independent IFA near Plymouth
Discussion
I live in east Cornwall and need some help re estate planning, setting up trust funds etc. An independent IFA sounds what I need , one that perhaps has an adviser that specialises in family trusts, estate planning etc.
For those of you in my region, is there someone/company you recommend.
I dont need investment advice/ISA's Shares etc.
ty
For those of you in my region, is there someone/company you recommend.
I dont need investment advice/ISA's Shares etc.
ty
The Leaper said:
You need more like a legal person I'd say.
Yup. Not just any old conveyancer above the newsagent but someone who genuinely knows their way around the subject. Trusts can be tricky things and are very susceptible to future changes in rules/taxes.Tip: Try to avoid appointing the solicitor as an executor or trustee. Costs can be high, combined with a very cautious approach.
First port of call is probably a specialist solicitor.
Tricky things trusts so you may want to cast your net a bit wider - 7 figures plus on the line is probably worth travelling for.
(not casting aspersions on the Plymouth legal fraternity, just that for this you need the right outfit, not just a local outfit)
Tricky things trusts so you may want to cast your net a bit wider - 7 figures plus on the line is probably worth travelling for.
(not casting aspersions on the Plymouth legal fraternity, just that for this you need the right outfit, not just a local outfit)
romft123 said:
legal yes but its about investing funds into these trusts etc, drip feed for young and not yet born young family members, for the future. So its a mx of both really
I'd still speak to a trust specialist first to make sure you are comfortable with the costs and that you will be able to achieve what you want.TownIdiot said:
I'd still speak to a trust specialist first to make sure you are comfortable with the costs and that you will be able to achieve what you want.
^^^ Definitely, definitely this. At the end of the day the investment side of things is much the same, with or without a trust.
OP - A decent IFA/financial planner is the correct line of enquiry.
If they are good, they’ll verse you in the options around Trusts, but also the many, far simpler options you should explore prior to committing to Trust planning. A financial planner will take a holistic view of your circumstances whereas you might find a solicitor more transactional.
As noted, setting up a Trust is only one step in that particular journey; the funds then need oversight, so rushing into the arms of a solicitor could mean paying twice.
If they are good, they’ll verse you in the options around Trusts, but also the many, far simpler options you should explore prior to committing to Trust planning. A financial planner will take a holistic view of your circumstances whereas you might find a solicitor more transactional.
As noted, setting up a Trust is only one step in that particular journey; the funds then need oversight, so rushing into the arms of a solicitor could mean paying twice.
DoubleSix said:
OP - A decent IFA/financial planner is the correct line of enquiry.
If they are good, they’ll verse you in the options around Trusts, but also the many, far simpler options you should explore prior to committing to Trust planning. A financial planner will take a holistic view of your circumstances whereas you might find a solicitor more transactional.
As noted, setting up a Trust is only one step in that particular journey; the funds then need oversight, so rushing into the arms of a solicitor could mean paying twice.
My thoughts as well. A local very well known do everything company as well as wills/probate etc charges £400+ for a 2 person mirror will. I know an ex solicitor that will do one for £50.......maybe even LPA's etc. So thats an easy one, but its tying the 2 together with trusts etc and the funds feeding them as well as the wealth management side of things which I do myself right now.......If they are good, they’ll verse you in the options around Trusts, but also the many, far simpler options you should explore prior to committing to Trust planning. A financial planner will take a holistic view of your circumstances whereas you might find a solicitor more transactional.
As noted, setting up a Trust is only one step in that particular journey; the funds then need oversight, so rushing into the arms of a solicitor could mean paying twice.
OP, the STEP web site's member directory could be a good starting point: https://www.step.org/directory/members
Or there's the unbiased web site. On the second page under 'Show more options' there's a button for 'Trust and tax planning': https://v2.unbiased.co.uk/enquiry/match-intro/fina...
Or there's the unbiased web site. On the second page under 'Show more options' there's a button for 'Trust and tax planning': https://v2.unbiased.co.uk/enquiry/match-intro/fina...
romft123 said:
DoubleSix said:
OP - A decent IFA/financial planner is the correct line of enquiry.
If they are good, they’ll verse you in the options around Trusts, but also the many, far simpler options you should explore prior to committing to Trust planning. A financial planner will take a holistic view of your circumstances whereas you might find a solicitor more transactional.
As noted, setting up a Trust is only one step in that particular journey; the funds then need oversight, so rushing into the arms of a solicitor could mean paying twice.
My thoughts as well. A local very well known do everything company as well as wills/probate etc charges £400+ for a 2 person mirror will. I know an ex solicitor that will do one for £50.......maybe even LPA's etc. So thats an easy one, but its tying the 2 together with trusts etc and the funds feeding them as well as the wealth management side of things which I do myself right now.......If they are good, they’ll verse you in the options around Trusts, but also the many, far simpler options you should explore prior to committing to Trust planning. A financial planner will take a holistic view of your circumstances whereas you might find a solicitor more transactional.
As noted, setting up a Trust is only one step in that particular journey; the funds then need oversight, so rushing into the arms of a solicitor could mean paying twice.
I’m all for saving a few quid, but this is not an area to cut corners.
Whereas an LPA, for example, is an easy DIY, you’d literally be paying someone to fill out an online form and make sure you can spell your own name correctly.
C69 said:
OP, the STEP web site's member directory could be a good starting point: https://www.step.org/directory/members
Or there's the unbiased web site. On the second page under 'Show more options' there's a button for 'Trust and tax planning': https://v2.unbiased.co.uk/enquiry/match-intro/fina...
tyvmOr there's the unbiased web site. On the second page under 'Show more options' there's a button for 'Trust and tax planning': https://v2.unbiased.co.uk/enquiry/match-intro/fina...
DoubleSix said:
romft123 said:
DoubleSix said:
OP - A decent IFA/financial planner is the correct line of enquiry.
If they are good, they’ll verse you in the options around Trusts, but also the many, far simpler options you should explore prior to committing to Trust planning. A financial planner will take a holistic view of your circumstances whereas you might find a solicitor more transactional.
As noted, setting up a Trust is only one step in that particular journey; the funds then need oversight, so rushing into the arms of a solicitor could mean paying twice.
My thoughts as well. A local very well known do everything company as well as wills/probate etc charges £400+ for a 2 person mirror will. I know an ex solicitor that will do one for £50.......maybe even LPA's etc. So thats an easy one, but its tying the 2 together with trusts etc and the funds feeding them as well as the wealth management side of things which I do myself right now.......If they are good, they’ll verse you in the options around Trusts, but also the many, far simpler options you should explore prior to committing to Trust planning. A financial planner will take a holistic view of your circumstances whereas you might find a solicitor more transactional.
As noted, setting up a Trust is only one step in that particular journey; the funds then need oversight, so rushing into the arms of a solicitor could mean paying twice.
I’m all for saving a few quid, but this is not an area to cut corners.
Whereas an LPA, for example, is an easy DIY, you’d literally be paying someone to fill out an online form and make sure you can spell your own name correctly.
Thats just a basic will.....please some dont get your kerknickers in a twist...EX solicitor.......basic will.....
I know where I am going now TY
I too live in East Cornwall, last year I moved my estate into trust, created new wills and generally had a tidy up of my finances all in a bid to try and be tax efficient and to best look after my decendants.
As some have already said, all of this needs more than an IFA, there are plenty of decent IFA's around in the area I use Richard Bateman: https://www.bateman-financial.co.uk/
A very good Solicitor specializing in exactly what you need is: https://gasolicitors.com/our-people/matthew-rose/ I just can't speak highly enough of him and his professionalism.
If you want any further info on either by all means PM me.
As some have already said, all of this needs more than an IFA, there are plenty of decent IFA's around in the area I use Richard Bateman: https://www.bateman-financial.co.uk/
A very good Solicitor specializing in exactly what you need is: https://gasolicitors.com/our-people/matthew-rose/ I just can't speak highly enough of him and his professionalism.
If you want any further info on either by all means PM me.
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