Why is inheritance tax planning needed?

Inheritance tax is a one-off payment made on the value of your estate when you pass away and can result in a large amount of your estate being lost in tax payments if it’s not structured to maximise any tax reliefs.

By structuring your estate in the right way you can save money and have the reassurance that your hard earned money will not be wasted in tax. This can be done through using a range of exemptions and financial planning methods, such as:

• Residence Nil Rate Band (RNRB)
• Annual exemptions
• Gifts
• Pensions
• Trusts
• Agricultural Property Relief
• Business Property Relief
• Nil rate band
• Transferable inheritance tax threshold

As each person’s situation is individual, it’s vital to take professional advice.

How can our wills and wealth planning solicitors help with your inheritance tax planning?

Our specialist team can review your assets and advise you to ensure that any available tax relief is maximised. Leaving you with peace of mind and confidence that your assets are protected.

We can explain the various reliefs available to you, the advantages and disadvantages of each and help you implement any changes.

How our wills, trusts and wealth planning solicitors work

Our team will take the time to get to know you individually. By doing this they can fully understand your situation and tailor their advice to suit you. We aim to make you feel reassured that the right person is looking after you.

When it comes to pricing, the team is open and transparent and will discuss any costs with you at the outset.