Tax & Estate Planning
Inheritance Tax & Estate Planning
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.