Estate Planning

Protecting Inheritance
Protecting your assets in order to benefit your family and loved ones is a key concern for many people. The government applies stringent taxes to your estate after you have died. You do not have to be rich to fall into the Inheritance Tax trap, only the first £325,000 (2009/10 tax year) of your assets is free of tax. Advanced planning is essential if you want your assets and possessions to be distributed as you intended.

Get your affairs in order
Everyone has a different set of circumstances and a tailored solution is essential.
Basic steps to mitigate IHT liability are:

• Order your finances tax efficiently
• Make a Will
• Value your assets
• Transfer assets
• Understand your pension death benefits

Use your exemptions
There are some exemptions from IHT. Here are the main ones:

• The Nil Rate Band
• Transfers between spouses
• The Annual Capital Exemption
• The Normal Expenditure Exemption
• The Small Gifts Exemption
• The Marriage Gifts Exemption
• Charitable Gifts
• Potentially Exempt Transfers

What we do
We will calculate your IHT liability and suggest ways of mitigating it often working with other professionals and using Trusts.

It has been said that IHT is a voluntary tax and only paid by those who had not carried out advance planning. Don’t fall into the IHT trap!

Risk Warning

The Financial Services Authority does not regulate Taxation and Trust Advice, Will Writing and Estate Planning.