Estate planning

When you have spent a whole lifetime building up your personal wealth, you want to think that upon your death your estate will pass into the hands of your chosen beneficiaries and not into the hands of the Taxman.

And yet, all too often we meet clients who are shocked at how much of their inheritance could be taken from their estate. HM Revenue & Customs take 40% on estates at death valued at over £325,000. This nil-rate band is not due to increase until 2015 at the earliest.

Inheritance tax (IHT) used to be referred to as a 'voluntary tax' for the very wealthy, but with the recent dramatic increases in property values without a corresponding increase in the IHT threshold, many more estates have come within the Taxman's reach.

There are a number of ways to reduce the potential tax liability on your estate....... but they all involve careful planning.

Lifetime gifts, the judicious use of trusts, and care with transfer of agricultural and business property can all help to significantly reduce IHT liability.

It is also possible to mitigate potential inheritance tax liabilities by arranging adequate life assurance cover.

We can help you with your estate planning, including succession planning and business exit strategies.

We can also help with the drafting and updating of your will. Our associate offices are able to provide trustee or executor services.

Contact Us today to discuss how we can help you preserve as much of your wealth as possible for your chosen beneficiaries.