Estate planning focuses on passing on your assets – both during your lifetime and after you die – in line with your wishes and in the most effective way.

​

Managing inheritance tax (IHT) is a large part of estate planning. The earlier you start planning and the better your plans are, the more you can minimise the impact of IHT on your finances. But inheritance tax planning isn’t the only consideration.

​

Estate planning helps ensure that you have the money you need to live the life you want and to deal with the unexpected. It gives you the confidence to make financial decisions. For example, estate planning can help you make financial gifts now and enjoy seeing the positive benefits they bring to the people and causes that matter to you.

Inheritance tax is a tax on your estate. It is most commonly paid by the people (other than your husband, wife or civil partner) who inherit your estate after you die. Typically, it has to be paid before your estate is distributed to your beneficiaries.

​

Your estate is a combination of your worldwide property, savings, investments and other assets.

​

Inheritance tax is only payable on estates above a certain amount and there are many ways to minimise or even eliminate this tax if you plan in advance and make use of all the available allowances and exemptions. It is often quotes as being a “voluntary tax” due to possible planning opportunities that can reduce it’s potential impact.

​

There are many potential solutions available to Paul to try to reduce or even eliminate the potential tax on an estate.

 

Contact Paul to discuss your situation in more detail.