Inheritance Tax Advice & Planning
Inheritance tax is a tax paid on your property and belongings (estate) when you die. It has to be paid before probate is granted and the inheritance is released, and can take a sizeable slice out of the wealth you wish to leave your family.
Through estate planning, there are many ways our inheritance tax specialists can help you ensure you have enough money to live on now, whilst restructuring your finances to minimise the tax payable upon your death. For example, have your life insurance policy pay out into a trust rather than your estate. Many people will find their life insurance is not written into trust, therefore, rather than solving a problem, it now causes one. Similarly, leaving legacy wills – donating a portion of your estate to a UK charity – can help to reduce the tax burden.