Wills & IHT Planning

Wills provide an excellent opportunity for inheritance tax (IHT) planning and are essential to ensure your assets pass to your chosen beneficiaries. They are equally important for married and unmarried couples and for individuals. If you die without a will, the "intestacy rules" can have unexpected and unhappy consequences

By including a Trust in your Will, co-ordinated with trusts of your pension and life policies, assets can be distributed flexibly and to the best IHT advantage. A Trust will also provide a means of protecting family assets in case of unstable marriages / divorce, financial insolvency, or mental or physical disabilities.

For those with property abroad, there can be a need for a separate Will in each country. “Forced heirship” and local tax rules apply in many European countries, and can give rise to awkward conflicts with UK planning which need careful co-ordination to resolve.

The difficulty is not understanding that Wills and other succession planning arrangements should be put in place or reviewed, but finding the time!

For a free initial consultation contact Helen Webster.