Unfortunately, inheritance tax is no longer just an issue for the wealthy. If your estate is worth more than £325,000 (or £650,000 if you are a married couple or civil partners) your estate may be liable to pay inheritance tax when you die.
We are able to provide advice regarding possible options to legally reduce your potential exposure to inheritance tax. These can include making gifts during your lifetime to use available allowances, creating trusts, or making a will that maximizes the use of allowances on death.
There are many types of trust and their potential uses are extremely varied. They can be used to protect your assets from tax, or from a spendthrift family member. If you have a family member who is unable to deal with money themselves but needs support a trust is the ideal solution to provide them with security. Trusts can be created in your lifetime or through your will.
We can advise on all aspects of trusts from creating them, ending them and the administration in between. We will discuss possible solutions in a free, initial consultation.