Trusts & Estate Planning

Wills
A properly drafted Will is arguably one of the most tax efficient planning tools and it costs next to nothing.

A will ensures a deceased person’s estate is passed to their intended beneficiaries and avoids the potentially complicated situation where a person dies ‘intestate’.

A Will can be drafted for around £200 and properly constructed Inheritance Tax planning schemes/arrangements can be put into place. The potential savings could be significant, as administration costs when dealing with your estate would be reduced. Should you need assistance please Contact Us

Are you liable to Inheritance Tax?
The good news is the first £300,000 (2007 / 2008) of an individual's estate is taxed at 0% and is therefore not liable to Inheritance Tax. The bad news is anything in excess of this amount is taxed at 40%.

For many people even with modest estates HM Revenue & Customs can become the single largest beneficiary of their estate, but the situation is compounded further as the larger your estate the higher the percentage lost.

Is it possible to mitigate an Inheritance tax liability?
Depending on your circumstances and the make up of your estate it is possible to mitigate or reduce your estate’s potential liability to Inheritance tax. If you would like to find out more Contact Us and arrange to speak to one of our Trust & Estate planning advisers.