“Where there is a will, there is an Inheritance Tax” Unknown
You have worked hard throughout your career to acquire the wealth that you have, so it is important to make sure that you pass on as much of your wealth to your family as possible and not to the tax man.
However, when you pass away and leave your assets to your family, they might be subject to inheritance tax. This type of tax can really take up a lot of your inheritance, leaving not as much left over as you might have expected for your family and loved ones.
Inheritance tax is a tax that is usually paid on an estate in the event that someone passes away and you will be subject to it if your estate is valued at over the particular threshold. It is also payable on any of the gifts or trusts that you set up during your lifetime. Typically, the tax will be paid using funds from the estate. Also, the trustees are also responsible for paying Inheritance tax on any assets within a trust.
There are a number of ways that we can help you to mitigate your inheritance tax. At Taylor Brunswick, we offer you customised service that is suited to your particular financial situation. We are professional financial advisors who are skilled and experienced in dealing with inheritance tax. If you are trying to figure out how best to mitigate the inheritance tax on your assets and estate, we can help with high quality customised financial advice.
We understand that everyone’s financial situation is unique, so we will get to know your unique needs and requirements in order to offer you fully customised advice that suits your circumstances. Once we have a clear picture of your situation, we will be able to take an in-depth look at your finances to understand how your inheritance tax is applied. From there, we can explore a range of recommendations that will offer you extensive protection.
With the right inheritance tax planning, your family will be able to enjoy a greater portion of your wealth rather than having to pay excessive taxes on your assets.
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