Inheritance Tax
How to Avoid Inheritance Tax
Inheritance tax is the tax you pay on your possessions and money while passing on your life savings to your children. Inheritance tax can be completely avoided if you take a little time to organise your affairs properly. The crucial thing is that you must take some action. Our approach to inheritance tax planning is often a blend of tax efficient will drafting, trust arrangements, investments and insurance.
What Can you Do?
We Have Put Together a Few Things That You Can Do to Avoid Paying the Inheritance Tax:
- Give away assets
- Use your allowances
- Make regular gifts from surplus income
- Put your grandchildren in your will
- Set up a simple protective trust and discretionary trust
- Business and agricultural property can be passed on free from IHT
- Make sure your will is up to date
Give us a call for more information. We will schedule a meeting to discuss your circumstances. Our team of solicitors will then prepare a report that gives you the options open to you and makes a recommendation as to the best way to avoid paying inheritance tax. The solution will be tailor-made to your lifestyle. It is crucial to get the right fit for you.
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