Wills and Tax Planning
It is estimated that up to two thirds of the population do not have an up to date will.
It is more important than ever to make a will. The decline in the marriage rate, increasing divorce rates, cohabitation and civil partnerships mean that the rigid legal rules applying to those that die intestate are increasingly out of date.
The rules are just as inadequate when applied to the 'standard married couple with 2.3 children'; and do not provide adequately for the family which may mean the family home must be sold. Making a will is easy and relatively inexpensive.
Notwithstanding recent concessions by the Government, making a Will may still be an opportunity to avoid Inheritance Tax. With proper planning, substantial savings can be made, meaning more money for your family when they most need it.
Some tax planning can be extremely simple and cost nothing but be very worthwhile. Other measures may be a little more complex but the rewards can be even greater.
We are here to make you aware of the options available to you and assist where required. We will review your circumstances with you, advise you as to your tax planning opportunities and give you an indication of the legal costs involved usually working to a fixed fee.