Solicitors in Bristol
solicitors in bristol

Inheritance Tax Planning

Due to increases in property values, many people who do not consider themselves to be wealthy have now found themselves owning assets above the threshold where Inheritance Tax will be payable.

Without Inheritance Tax planning your family could be faced with a large tax liability when you die, considerably reducing the value of the estate passing to chosen beneficiaries.

It is possible to save up to £130,000 in tax by planning your estate in the right way, and ensuring that your future Executors have all the information they need to make these savings.

The current threshold for Inheritance Tax is £325,000. If you leave an estate valued at over £325,000, your beneficiaries could be liable to pay inheritance tax at 40% of the value of your assets.

It may be possible to reduce or eliminate this Tax liability with careful us
You may therefore be able to:

  1. Keep your assets within your family
  2. Reduce your beneficiaries Inheritance Tax liability
  3. Protect your assets from the need to fund long term care in later life
  4. Protect your Nil Rate Band if you were to die and your partner re-marry
  5. Protect assets passed to children / grandchildren from the risk of them becoming bankrupt or divorced

For more information contact us for a consultation with a solicitor.