Inheritance tax, wills and LPA's
About one third of people who die in Britain do so intestate - that is, without a will (source: the Law Society). Our advisers are qualified in advising you how best to minimise your beneficiaries’ liability to inheritance tax which currently stands at 40% of the total value of all your possessions (including your home) above the £312,000 nil rate band 2008-9 (£350,000 in 2010-11).
The estate of a surviving spouse or civil partner will be able to benefit from any unused inheritance tax nil rate band of their deceased spouse or partner. This will apply on the death of a surviving spouse or partner after 8 October 2007.
You can’t avoid it by simply giving all your money away in the last months of your life, and there’s no point spending it all wildly and hoping the possessions you buy won’t form part of your taxable estate, because they will.
To minimise your beneficiaries’ liability to inheritance tax you need expert advice; the sooner the better. Our advisers are fully qualified and experienced in helping you to maximise your estate for the loved ones you leave behind and in dealing with the sensitivities involved where the family is complicated by second marriages, civil partnerships, natural children and step children, etc.
We also work closely with solicitors to ensure that your will protects your loved ones after you are gone. Moreover, if there comes a time when you are not capable of managing your property and financial affairs and you need to appoint a friend, relative or professional to hold a Lasting Power of Attorney to act on your behalf, the specialists we work with can help you through the process.
Applying for Probate can be a complicated and time-consuming process at a time when you may find it difficult to cope. We provide an efficient and friendly service, liaising with the necessary professionals on your behalf to facilitate swift compliance with probate procedures. We will manage the compilation of all information required by legal representatives in order to distribute the deceased’s estate to the intended beneficiaries with the minimum fuss.
Use the contact tag on the menu on the left of this page, or telephone 01434 607 808 for an appointment with an experienced adviser.
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