Estate planning can save a huge amount of tax. Inheritance Tax is usually charged at 40% on anything above your nil rate band – so the potential tax savings can far outweigh the cost of advice.
However, estate planning isn’t just about passing on money when you die – it’s also about enjoying life now and ensuring you have enough to live on. This is why it’s so important to start planning early.
We can help show you how much money you expect to need, help you to pass on assets in the most effective way, and work with you to reduce or manage an Inheritance Tax bill.
Traditionally, wealth has passed from one generation to the next upon death. However, intergenerational wealth planning challenges that notion and looks at how families can use their wealth more collaboratively to support each other during their lifetimes and beyond.
The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances.
