Inheritance and Tax Planning

If your assets - your property, the contents of your home, any savings or investments – are above a certain level you may be liable for inheritance tax when you die. The legal term for everything you own is your ‘Estate’. It is this that is subject to inheritance tax – importantly this happens before your Estate passes on to the people you want to receive it, usually your spouse or loved ones like your children. If you fail to think about inheritance tax planning it can leave those you care about with a financial headache as well as the heartache of you no longer being there for them.

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