Why is inheritance tax planning no longer only for the wealthy?
For many years, Inheritance Tax (IHT) was considered a concern reserved for the very affluent. That perception is increasingly outdated. With residential property values having risen significantly across the UK over the past two decades, a growing number of estates including those of ordinary middle-income families now fall within the scope of IHT.
Understanding how tax works and what planning options exist is something every adult should consider as part of making your Will. Your Will is your most powerful IHT tax planning tool. Most people think of a Will simply as a document that sets out who gets what when they die. This is true; however, a well drafted Will can do considerably more than that. For many families it is the single most effective Inheritance Tax planning tool available, and yet it is frequently overlooked.
If you would like assistance in preparing a Will, or if you would like tailored advice on IHT planning, please contact any of our three offices. Our experienced Wills, Trusts & Probate team will be pleased to guide you through your options and help you put effective plans in place for the future.
– Saffron Walden: 01799 523 441
– Sawston: 01223 832 939
– Haverhill: 01440 702 485
Louise Taghi joined the firm in November 2021. Louise has many years’ experience in the legal profession and the experience ranges from Solicitors to Barristers’ Chambers from single office High Street firms to the 12th largest law firm in the world.
She brings a depth of experience to the Practice and is an Associate Member of the Institute of Legal Finance & Management (ILFM).
Louise is responsible for day to day management of the firm and works closely with the Partners.
Hobbies and Interests: Outside of work Louise is a member of a Suffolk-based ladies choir, and also enjoys gardening and keeping fit.
