Estate planning and Inheritance Tax

Passing on assets and cutting an Inheritance Tax bill

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Some people want to make gifts to their children or leave money to charity when they die, others want to cut an Inheritance Tax bill. Whatever your priorities are, the sooner you start thinking about estate planning the more you can do. This free guide explains the rules around estate planning and managing an Inheritance Tax bill.

What is estate planning?

Estate planning involves passing on more of your assets to your children and others by reducing your potential Inheritance Tax bill. This usually involves making financial gifts but there are other options available.

How can I cut an Inheritance Tax bill?

There are several different ways to reduce your Inheritance Tax bill:

  • Make outright gifts
  • Set up a trust
  • Keep your assets while reducing your estate
  • Managing Inheritance Tax without making gifts

How much is Inheritance Tax?

Inheritance Tax is a 40% charge on any assets above the nil rate band – your personal allowance. This allowance is currently £325,000 per person. Find out more in our free guide.

Book a free consultation with a financial planner

You can book a free conversation with our financial planners at your home, local Tilney office or over the phone. They will explain how they can help you to make financial gifts, pass on your assets or manage an Inheritance Tax bill.

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