Some people want to make gifts to their children or leave money to charity when they die, others want to cut an Inheritance Tax bill. Whatever your priorities are, the sooner you start thinking about estate planning the more you can do. This free guide explains the rules around estate planning and managing an Inheritance Tax bill.
What is Estate Planning?
Estate planning involves passing on more of your assets to your children and others by reducing your potential Inheritance Tax bill. This usually involves making financial gifts but there are other options available.
How can I cut an Inheritance Tax bill?
Make outright gifts
Set up a trust
Keep your assets while reducing your estate
Managing Inheritance Tax without making gifts
How much is Inheritance Tax?
Inheritance Tax is a 40% charge on any assets above the nil rate band – your personal allowance
This allowance is currently £325,000 per person. Find out more by contacting our office