Inheritance Tax and estate planning is quickly becoming one of the key concerns for individuals in the UK. Where once, dealing with Inheritance Tax after the passing of a family member only affected the very wealthy, increased property values, personal investment portfolios and pensions have all contributed to an increasing number of families facing the issue of how to deal with the tax liabilities after a loved one has passed.
The issue of Inheritance Tax can be complicated and costly if you get it wrong, and increasingly families are looking for professional advice to help them. Early planning can help you protect your wealth for the future and take the stress away from your beneficiaries when dealing with your estate after you have passed.
For most people, writing a will is a natural thing to do in order to protect their estate and making plans around how you can mitigate the tax liabilities on your estate should be seen in the same way.
There are a number of ways in which your advisers can help you plan to your estate, combining tax expertise with investment planning can help you to take advantage of individual tax allowances whilst investing your wealth in order for it to grow.