Your estate for Inheritance Tax purposes will include all your assets: for example, your house, life policies, the proceeds of superannuation schemes, and shares you own jointly or in common with others, and also any property and assets which you may own outside the UK. In fact your estate could easily be much larger than you may realise.

Despite the various reliefs and exemptions available there may still be a heavy burden of tax to be paid on your death. However, with careful planning, proper organisation of your affairs, and lifetime gifts, the impact of the tax can be greatly reduced.

Our taxation department can give you the practical help and assistance you need to achieve suitable Inheritance Tax saving arrangements.

Making gifts of property may be a way of reducing the possible Inheritance Tax that your estate will have to pay in due course. Alternatively you may wish to make gifts of money, just, for example, to give your children or other loved ones a helping hand.

However, you must be careful not to give away more than you can afford. It is essential that you always retain sufficient assets for your future security.

We can provide help and advice with regard to making gifts.

If you fail to make a Will your assets will be dealt with on your death in accordance with the Intestacy Rules which will take effect regardless of your concerns or of any desire you may have had, that particular persons should receive special consideration and provision from your estate.

Here are just some of the matters you can address in your Will:

1. Proper provision for loved ones and friends
2. Detailed gifts of property, personal effects, money, and other specific items
3. Appointment of Executors
4. Inheritance Tax saving arrangements
5. Provision for business assets

Please see further Wills & Probate

Please ask for our free advice leaflet on Wills.

Please see Powers of Attorney & Living Wills