Estate
Planning
“NOTHING IN LIFE IS
CERTAIN EXCEPT DEATH AND TAXES”
– Benjamin Franklin
Inheritance tax is not just for the rich
however
most people simply dismiss the possibility that their estate
could ever be liable, regrettably leaving the beneficiaries to
suffer the consequences of Inheritance Tax (IHT) at the rate of 40%
over the current nil rate band of £325,000. (2009/10)
Despite recent changes
including the introduction of individual nil rate bands for married
couples and recognised partnerships, thus providing a potential
combined nil rate band of £650,000, IHT still remains a problem for
a great many.
The dilemma for many
individuals is what actions can be taken without compromising their
own financial position. Most individuals will naturally wish to
control their capital and enjoy the income stream from their assets
thus do not, or cannot afford, to make capital gifts to their heirs.
Like other aspects of
financial planning there are many options and allowances available,
not forgetting the importance of making of a Will. It is our role as
independent financial advisers to design appropriate recommendations
to suit your circumstances and meet your specific objectives which
could include lifetime gifting, charitable gifts and establishment
of appropriate Trusts.
We work closely with
solicitor firms and therefore we can refer you to an appropriate
firm for expert preparation of your Will.
Contact us today on
01424 844243 or via our contact page for an unbiased review of your protection
policies or other financial affairs.
The Financial Services
Authority do not regulate Inheritance Tax planning and Will writing. |
