Inheritance Tax is not any longer the preserve simply of the rich and famous.  More and more people are finding themselves within the threshold where Inheritance Tax applies.

Anyone with assets over £325,000.00 may find they are liable to Inheritance Tax that is currently charged at 40%.

When the value of property, pensions, insurance policies, shares and other assets are taken into account this can mean that many of our clients would be liable for large tax bills in the event of their death.

It may be possible to have an effective Nil Rate Band of £650,000 on the death of the second party to a marriage/civil partnership and we can advise you regarding claiming this increased Nil Rate Band.

Lifetime gifts, either outright gifts or using a Trust, are a useful tool to mitigate your Inheritance Tax liability.

Taking legal advice to prepare your Will is a good opportunity to ask for advice generally regarding mitigating your Inheritance Tax liability.