Our clients have typically worked very hard to create and accumulate their wealth but most will agree that it seems rather unfair that without careful planning and a great deal of pre-emptive action, most families will ultimately face a huge Inheritance Tax (IHT) bill.
Inheritance tax is becoming an increasingly important contributor to the Treasury. Over the years, it has become harder to reduce your estate so as to minimise this liability. Nevertheless, it is still very important to plan – firstly to establish your current position in regard to a potential inheritance tax liability on your estate – and secondly, to explore possible solutions tax effectively, with the ultimate objective of reducing the eventual burden on your family of Inheritance Tax. Furthermore, this needs to be done without imposing unacceptable financial pressures on yourself.
We can provide a range of solutions to minimise Inheritance Tax. This can involve the use of Trusts and the possibility of re-drafting your Will. In these situations, we will work with your solicitor or we can recommend a professional to prepare any legal documents that may be required.
Why not come and talk to us about how we can provide advice for wealth preservation, tailored to your particular circumstances.