legal advice and support on reducing inheritance tax & estate planning
Without inheritance tax planning your family could be faced with a large tax liability when you die, considerably reducing the amount your love ones receive.
If you die and leave an estate valued at over £325,000, your beneficiaries may be liable to pay inheritance tax at 40% of the value of your assets over and above that amount.
by taking advice on inheritance tax planning you may be able to:
- Reduce Inheritance Tax
- Keep your assets within your family
- Protect your assets from the need to fund long term care in later life
- Protect your Nil Rate Band if you were to die and your partner re-marry
- Protect assets passed to children / grandchildren from the risk of them becoming bankrupt or divorced
At Watson Thomas Solicitors, we can advise you on a number of methods which may help in reducing Inheritance Tax liability on your death. This may involve the creation of Trusts during your lifetime or the preparation of a tax efficient Will for you. If you already have a Will, we can advise you on whether there are any changes you ought to consider making to help reduce the inheritance tax liability of your estate on your death.
*Covid-19 Update - 19th March 2020*
Our Private Client team are able to provide Wills and LPAs remotely. We can take your instructions over the telephone or via video conferencing. If you are in isolation, we can deliver the documents to your home for signing or we can email them to you to print and sign with careful guidance on how to do so. We are doing all that we can do offer our clients peace of mind at these difficult times.
If you need legal guidance and support on Inheritance Tax, please call us at our Fleet Office on 01252 622422 or our Guildford Office on 01483 320114.