Besides the threats to personal wealth posed by family relationships and ageing, there are other significant threats posed by the statutory requirements of the Law and Tax rules. By being aware of them you can start the process of estate planning and mitigating the potential cost of them - for example reducing the impact of Inheritance Tax.

Inheritance Tax has to be paid on all assets at the time of death (your estate) above a certain level set by the Government. Up to that level is known as the Nil Rate Band (NRB) and you are not taxed on it, above it you are taxed at 40% on all you own - your home, possessions, savings and investments both in the United Kingdom and overseas. All your worldwide assets are subject to UK Inheritance Tax.

The good news is that, if you plan ahead, use your annual allowances and personal reliefs and have an appropriate Will and trusts, you can significantly reduce your inheritance tax liability and exposure to other third-party threats. This does not mean losing control nor necessarily giving assets away during your life, although sometimes that’s a useful way of reducing exposure to tax.

We will advise you about the options available and help you find the right solution to achieve what you want for those you leave behind.