INHERITANCE TAX AND ESTATE PLANNING
Although many of our clients wish to adopt the simple approach to making a
Will, there are often circumstances that necessitate more complex documents, to mitigate Inheritance Tax or to protect assets for future generations
The current threshold for Inheritance Tax (IHT) is £325,000 (2009/2010) and with the new Transferable Nil Rate Band legislation this means that married couples or civil partners can pass on a total of £650,000 without incurring any IHT liability.
However, those with larger Estates or complex family situations, e.g. second marriages and extended families may benefit from specialist advice on how best to pass on their assets in the most tax efficient manner.
We can advise on how best to achieve your aims in this regard including Discretionary and Life Interest Trusts.