Wills, Trust & Probate
Planning for Inheritance Tax on your Will ensures that your close ones receive the most from your estate, without losing out to tax.
Inheritance Tax is tax charged on the value of your estate on your death. The first £325,000 of your estate is not subject to Inheritance Tax. Anything in your estate which is over this threshold is subject to Inheritance Tax which is charged at 40%.
Inheritance Tax payable on death is based on the value of your estate when you die. This will include:
There are a number of actions that can be taken to reduce inheritance tax. They include:
Inheritance tax planning should never be considered in isolation, so our experienced lawyers will advise on how inheritance tax, capital gains tax and income tax interact, helping you avoid unintended consequences.