With estate planning, you can decide what happens to your money and possessions (even your pets) should something happen to you. But, Estate Planning is useful in other ways too - it can help you minimise any Inheritance Tax liability and ensure your wishes are carried out in the event of your death if you [...]
We are always seeking solutions for our clients and looking to provide products that will help them manage their assets more efficiently, with the aim of protecting and growing their wealth for the future. Preparing for Inheritance Tax (IHT) is an area that regularly impacts on our clients’ financial and legal planning. Across HWM, depending [...]
It is fair to say a simple concept has turned out to be a complex reality, which raises a number of planning questions and concerns for advisers and clients. The current level of Nil Rate Band (NRB), set at £325,000 from April 2009, has been frozen at that level ever since and is due to [...]
As of April 2017, the new Inheritance tax (IHT) rules have come into force, but what do they mean? As it stands each person in the UK has a Nil Rate Band (NRB). The NRB is the amount that you have within your estate before you pay any Inheritance tax. For any type of asset [...]
If you want to mitigate the effects of Inheritance Tax (IHT) on your estate, trusts can be an important part of the process. When you put cash, property or investments in a trust, provided certain conditions are satisfied, you don’t own it any more. This means it might not count towards your IHT bill when [...]
As ever, there’s nothing simple about the new Residence Nil Rate Band (RNRB) allowances and rules which is why we've laid out the basics below. Inheritance Tax and RNRB are complicated and are totally dependent on each individual so we would always recommend seeking the help of a professional if you want to get further [...]
Here, Tristan Hartey offers some solutions for helping to reduce your beneficiaries’ potential Inheritance Tax bill. 1. Make a Will Making a Will ensures your assets are distributed in accordance with your wishes. This is particularly important if you have a spouse or partner, as there is no IHT payable between the two of you, [...]
The structures into which you can transfer your assets can have lasting consequences for you and your family, and it is crucial that you choose the right ones. The right structures can protect assets and give your family lasting benefits. A trust can be used to reduce how much Inheritance Tax (IHT) your estate will have to pay on your death.
Contrary to the belief of some, Inheritance Tax not only affects the very rich, but other people may be liable without realising. Few taxes are quite as emotive – or as politicised – as Inheritance Tax. The structures into which you transfer your assets can have lasting consequences for you and your family. With the [...]
Here, Karl Hartey shares his top ten tips for reducing and protecting your family from a potential Inheritance Tax bill.
