IHT, Wills & Next Generation

Securing your legacy

Inheritance tax (IHT) can be a worry for clients in the later stages of life. You’ve worked hard for what you’ve got and, quite naturally, want to pass on as much of your wealth and assets as possible. But if your assets amount to more than £325,000 your legacy could be subject to 40% tax at 2021/22 rates.

The good news is that careful planning and smart advice can take much of the sting out of IHT. Over the years, our experts have helped countless clients make tactical moves that make them feel in charge and bring peace of mind.

That might mean, in practice, distributing your estate while you’re still around to see people benefit from it. That might be in the form of gifts or it could be through managed trusts which provide a degree of control over how it is used. The point is to make sure the next generation is provided for and, perhaps, that the business you’ve built can continue to thrive in the right hands.

By far the easiest and most effective inheritance planning tool at your disposal is an up to date will. The alternative is that your estate gets distributed in accordance with an old will, perhaps going to be people who are no longer as important in your life, or, by default, to relatives with whom you are not close. We can advise on tax efficient ways to distribute your estate through a will.