Inheritance Tax Planning

Inheritance Tax is often described as being a “voluntary tax” and Estate planning is something a lot of people prefer not to think about, but there are simple steps and inheritance tax planning that can be undertaken to make sure that it is your family and friends that end up as the main beneficiaries rather than the Chancellor of the Exchequer.

In some cases inheritance tax planning can go hand in hand with ensuring that your retirement income is boosted, care home fees are taken care of and assets are passed to your chosen recipients as intended, whilst letting you keep control.

According to The Law Society, 60% of people die without leaving a will and this can have  huge taxation and other unintended consequences. Therefore it is vital that in tandem with writing your will, you also consider the inheritance tax implications.

Some parents want to try and preserve as much of their capital as possible so that this can be passed down the generations and with effective timely inheritance tax planning this can be achieved.

We have extensive expertise in being able to work with you and your legal advisors to ensure that the right estate planning is in place to keep any future tax liability to a minimum.

We always advise clients to ensure that their wills reflect their wishes and take account of any inheritance tax planning they may wish to undertake. You should also ensure that you have also put   a lasting power of attorney in place, this allows individuals, that you have specified, to act for you in the event that you cannot make your own decisions.

Please contact us at our offices in Fetcham, Leatherhead, Surrey for more information.

Fact Sheets

The following fact sheets provide generic information about inheritance tax, it is however a very complex area of financial planning and care needs to be taken when making any sort of plans, therefore independent advice should always be sought.

Inheritance Tax Fact sheet

About Trusts

Lasting Power of Attorney 2016