Inheritance Tax Advice

Some estates could have a substantial tax bill if steps have
not been taken to plan for the future.

“In this world nothing can be said to be certain, except death and taxes” – but that doesn’t mean you can’t plan for the second and take steps to mitigate the position.

Inheritance Tax is currently charged at 40%; which means some estates could have a substantial tax bill if steps have not been taken to plan for the future.

Such planning includes:

Reviewing available Inheritance Tax allowances and ensuring these can be utilised in the best way.

Determining if any exemptions apply to the estate, or any assets within the estate. For example, assets passing to a spouse or civil partner; gifts to charities; and certain business and agricultural assets are exempt from Inheritance Tax.

Assessing steps that can be taken during an individual’s lifetime to mitigate a tax liability (without, of course, leading to adverse outcomes during that person’s life).

We review all of the above with you when preparing a Will, or if further steps need to be taken, we can also assist with a stand-alone estate planning review. Regardless, we are aware of the sensitive nature of these discussions and work with you – and how much information you want to provide – to achieve the best results for you and the loved ones you leave behind.

Death Of A Loved One

Probate Service