Inheritance tax saving Wills in WarwickshireRecent changes to inheritance tax law mean that married couples can now combine or transfer their individual inheritance tax allowances to each other. What does this mean?
Couples can combine their allowances-so instead of paying 40% tax on anything over £300,000, their joint beneficiaries can now receive £600,000 before an inheritance tax liability applies.
This new law also applies to married couples where one partner has died-the deceased in effect transfers his or her allowance to the surviving partner who can then bequeath up to £600,000 before inheritance tax becomes due. Good news?
Yes, but thanks to the huge rise in property prices, many people who own their property have estates worth in excess of £600,000, and therefore will still have some IHT liability. A well drafted inheritance tax saving Will can limit or completely negate the inheritance tax liable on your estate. Whether you're married or widowed, I can use trusts to maximise the value of your estate and protect your family. Why not contact me to find out how much inheritance tax you can save. A consultation will cost younothing, but could save you unlimited money in the long term. |