Tax Planning and Trusts

What is Tax Planning?

We offer a full review of your personal finances to minimise the impact of inheritance tax. This review will ensure that in the event of your death the interests of your beneficiaries are as protected as possible.

Everyone may be subject to inheritance tax after their death depending upon the value of their estate and their chosen beneficiaries. We can guide you through the current thresholds for inheritance tax, the residence nil rate band and examine your estate's potential for inheritance tax. We can explain the exemptions available and draft your Will in a tax efficient manner after taking into account your circumstances and wishes. This can save you time and money and can avoid any disagreements about your Will. Your beneficiaries will not wish to pay part of their inheritance towards a large tax bill. 

A poorly drafted Will can leave a large tax bill which may result in your family receiving less money or property than was intended. 

Contact us today for your personal tax planning review with a designated solicitor!

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Speak with Charlene to discuss your options and to Make a Trust

What is a Trust?

A Trust is a legal arrangement that allows an individual to manage the assets and financials on behalf of someone else. This is often the case when an inheritance is left to a minor but could also be for a vulnerable adult.

It is possible to include a trust arrangement in your Will, for example if you wish to leave your money or property to children under 18. We can advise you on the advantages and disadvantages of the terms of the trust.

A trust provision has many benefits and can minimise inheritance tax, manage and control spending by beneficiaries, protect funds from other beneficiaries and allow discretion or flexibility. 

Contact us for a bespoke quote today.