Inheritance Tax Planning

CAREFUL PLANNING IS REQUIRED TO PROTECT YOUR WEALTH

There are a number of different wealth structures that can help reduce your family’s Inheritance Tax bill but unless you plan carefully, all your assets or your beneficiaries, could become liable to Inheritance Tax. Once only the domain of the very wealthy, the wide-scale increase in home ownership and rising property values over the past decade have pushed many estates over the Inheritance Tax threshold. However, in recent years we have also seen property price reductions.

Inheritance Tax applies to your entire worldwide estate, including your property, savings, car, furniture and personal effects. You also need to consider your investments, pensions and life insurance policies and ensure that life polices are held in an appropriate trust.

Planning ahead for when you die allows you to set out clearly who should get what from your estate. In order to protect your family and loved ones, it is essential to have the correct wealth structures in place after you’re gone. Inheritance Tax Planning requires specialist advice and needs to be structured carefully over a period of time. However, once your carefully structured plan has been implemented, it can be reviewed regularly though our advisory service.