Along with offering tailored financial advice, expert portfolio management services and retirement planning, wealth managers can also help with inheritance tax concerns. Inheritance tax (IHT) is a mandatory government levy that must be paid on a person’s estate after they die, depending on its value. In this blog, we’ll run through the different ways wealth management teams help their clients get ready for this inevitable event.
Clarifying the complex
There are a multitude of ingredients that form the total value of an individual’s estate. As a result, the final bill faced by those they leave behind can be complicated. Fortunately, wealth managers can perform in depth calculations that accurately assess a person’s potential liability and, where possible, mitigate the size of the IHT payment.
Effective investment strategies
Wealth managers can offer suitable investment strategies that increase income levels in a tax-efficient way. Using an investment model that is geared towards preservation of capital instead of capital growth is one such solution. All tax mitigation strategies are deployed with a mind to retain sufficient assets, ensuring that while an individual is alive, they always have adequate provision for their personal financial security.
At Hartey Wealth Management, our financial planning services in Shropshire and Chester can offer you all the support you need with inheritance tax issues. Whether you have specific concerns, or simply wish to ensure you are prepared for the final bill your beneficiaries will pay, contact our team today for expert advice.
