Inheritance Tax (IHT) can mean a substantial bill for your loved ones, but the good news is that there are often steps you can take to reduce it.
While it may seem as though it is an overwhelming task; being proactive is essential. Your beneficiaries won’t be able to reduce the amount of Inheritance Tax due after you pass away, so estate planning is not only recommended – it’s crucial.
We understand that the intricacies and nuances of various tax options may seem confusing, which is why we’re here to help.
We can assist you in understanding how Inheritance Tax works; the ‘nil rate bands’ you have available and what you need to do to qualify for them – this is the first step to being IHT savvy.
There are many options available to you and by working together, we can formulate a plan as unique as you are.
We can help you plan for yours and your family’s future by effective IHT planning, and we can help you understand the options to reduce your estate’s value; whether through gifts to your family or charity, using trusts, or using life insurance to cover the liability.
While these steps could be right for you, there may be other options that make financial sense as well.
If you’d like to discuss your long-term plans and what you could do to reduce Inheritance Tax get in touch with us. We’re here to help.
Book an appointment with one of our Independent Financial Advisers.
To schedule a call back click here: https://www.lloydwhyte.com/financial-services/inheritance-tax-planning/
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Email: info@lloydwhyte.com