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Tax planning - Frequently asked questions

• How can I reduce the amount of tax payable by my beneficiaries?
• How can I get the advice I need to reduce the tax?

How can I reduce the amount of tax payable by my beneficiaries?

When you make a Will, we can also provide an Inheritance Tax planning report to help reduce the impact of Inheritance Tax on your estate. This advice may encompass a wide range of avenues available to reduce the potential tax liability arising on your death, including maximising the use of various inheritance tax exemptions and relief's, specific provisions in your Will, changing the ownership of your property and other assets, lifetime gifts (whether outright or into various forms of trust), and the use of life policies. We will also consider any death in service and pension benefits you may be entitled to, as well as the possible utilisation of a Deed of Variation following a recent inheritance.

How can I get the advice I need to reduce the tax?

We will need to meet with you to discuss the full details of your financial and personal circumstances in order to advise you on the options available. In particular, such tax planning needs to take account of your income and capital requirements, both now and in the future, and the exposure to other tax liabilities which might arise in such planning.