Estate & IHT Planning
Inheritance tax used to be referred to as a ‘voluntary’ tax for the wealthy, but with the recent dramatic increases in property values without a corresponding increase in the inheritance tax threshold, many more estates have come within the Taxman’s reach.
Inheritance tax can cost loved ones hundreds of thousands of pounds in the event of a death, yet it is possible to legally avoid, or possible to pay none at all. The most important aspect is to examine whether you will pay inheritance tax and your next steps. There are a number of ways to reduce the potential tax liability on your estate, but they all involve careful planning, often over a long period of time.
Sterling Partners can give advice on use of exempt Gift Allowances, Potentially Exempt Transfers, Level Term Assurance and more, to help reduce the estate and ensure there are sufficient funds to pay the liability.