Protecting what you've built
Financial planning isn't only about building wealth. It's also about protecting it, using it effectively and considering how it may eventually pass to the people who matter to you.
Based in Coatbridge and working with clients across Lanarkshire, Glasgow and Scotland, Wealth Lab Financial Services can help you consider estate and tax planning as part of your wider financial plan.
Estate planning is becoming increasingly important.
With the Inheritance Tax nil-rate band remaining frozen at £325,000 and the residence nil-rate band at £175,000, more families may find the value of their estate moving closer to, or beyond, the available thresholds.
From 6 April 2027, most unused pension funds and pension death benefits will also be brought within the value of an estate for Inheritance Tax purposes, making it increasingly important to consider pensions, investments, property and other assets together when planning for the future.
Planning beyond today
Your financial circumstances rarely exist in isolation. Your pensions, investments, property, business interests and family circumstances can all influence the decisions you make.
We take time to understand the bigger picture and, where appropriate, work alongside your solicitor or accountant to help ensure your financial planning complements the legal and tax advice you receive.
Estate & inheritance planning
Understanding how your assets may pass to the next generation can help you make informed decisions during your lifetime.
We can help you consider your pensions, investments and other financial assets alongside your wider estate, including opportunities to pass wealth to your family where appropriate.
Tax-efficient planning
Making appropriate use of available allowances and tax-efficient arrangements across your investments, pensions and wider financial plans.
Working together
Estate planning can involve financial, legal and tax considerations. Where appropriate, we can work alongside your solicitor and accountant so that each part of your planning complements the others.
HMRC estimates that in 2027/28, around 10,500 estates will become liable for IHT that otherwise wouldn't have been, and approximately 38,500 estates will pay more IHT as a result of bringing pension wealth into estates.*