Inheritance tax planning is an important element of your wealth management strategy, as it allows you to continue to help your loved ones after you’re gone. While we all have our hopes and dreams for our own life and future, it’s true to say that most of us don’t just generate wealth for ourselves, but also for the benefit of our friends, family and those closest to us.
Unless you acknowledge and plan for your own death, you may find that passing your hard-earned wealth on to those you want to benefit from it is difficult. Inheritance tax issues need to be addressed and managed as early as possible to ensure that your finances are organised and prepared in the event that anything should happen to you. With a tax rate of 40% on an individual estate worth over £325,000 many people are likely to be impacted.
For more advice on Inheritance Tax Planning, please give us a call.