Protection and Estate Planning
Let us help you to consider, plan and protect your estate, to give you peace of mind that your wishes will be fulfilled throughout your life and beyond.
Inheritance and Estate Planning is a subject that many people shy away from, but we can help you and your family understand the complexities of protecting and bequeathing your assets.
It’s essential that you protect your estate with a will as this will minimise the tax liability of your loved ones. The inheritance tax allowance currently stands at £325,000, but as a consequence of the increase in house prices, many people have found that the value of their property exceeds this allowance making any value over the threshold subject to 40% tax.
However, married couples and civil partners can pass any unused allowance to one another, and you could benefit from the Family Home Allowance which means you could pass your family home on to your children or grandchildren tax-free. This means that the total tax-free allowance for a surviving spouse or civil partner could be up to £1m from 2021.
At Investax we can advise on the creation of trusts ranging from conventional trust arrangements to more innovative structures that could enable you to reduce your potential liability to either income or inheritance tax.
To find out more about estate planning and inheritance tax please get in touch.