Inheritance Tax Planning
A very important consideration when writing a will is inheritance tax planning.
Inheritance Tax is currently payable at 40% on any assets over £312,000. With the increases in house prices many people now find they could be subject to this tax on death. Fortunately for married couples the surviving spouse can now make use of any unused allowance from the deceased spouse.
However tax planning within Wills is still advisable particularly for unmarried couples. The good news is that with a professionally written Will it is possible to arrange your affairs so that inheritance tax is either completely avoided or heavily reduced. Many of our clients have taken advantage of this service which can save over £120,000 in tax.
Trinity is very experienced in ensuring only those you choose receive your legacy and that the tax man’s share is kept to an absolute minimum. After all you have worked all your life to get where you are and you should be able to leave your Estate to whom you choose.