Inheritance Planning (IHT)

It's always best to start your financial planning earlier, so you're privy to the broadest range of options

A wise man once called inheritance tax "a voluntary levy paid by those who distrust their heirs more than they dislike the Inland Revenue". That wise man was former Chancellor Roy Jenkins, and his point was that there are many ways to mitigate inheritance tax, or IHT, if you do your homework.

With a number of factors influencing the value of your estate and therefore the bill hitting your beneficiaries, some comprehensive calculations are required in order to best manage your affairs upon your death.

Ask yourself who you want to offer gifts towards, when you might want to start gifting, and how frequently? There may be charities or political causes you'd like to consider supporting, taking advantage of their exemption from IHT.

It's always best to start your inheritance tax planning earlier, so you're privy to the broadest range of options.

Speak to us at Equilibrium about your needs and wishes both now, in life, and in death. Any remaining assets that you don't spend will be left to your estate and those named in your Will and you undoubtedly want to ensure your wishes are carried out, rather than all your best intentions falling into the hands of the taxman because you didn't think through your estate plan properly.

Currently IHT comes at a cost of 40% - a total waste if you can reduce this bill by reallocating some of your assets in good time, and within the allowances.

While we can ensure an appropriate plan whatever your circumstances, it's probably best considered sooner rather than later.