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Guide to Estate Preservation

08 January, 2020

Many of our clients have worked hard through their working life, and have built a certain level of security for themselves.  As we get older it is very natural for our thoughts to turn to those who come after us, often our children.  In the UK there is a long respected tradition of passing wealth to our children, and there is an expectation, although not an obligation that when we are gone our children will inherit what we leave behind.  

However this is often not the most tax efficient way of ensuring the security and future prosperity of our children, and some forethought and planning can make a significant difference to the value our beneficiaries inherit.  In the UK there is Inheritance Tax (IHT) at a rate of 40% on assets above the nil rate exemption.  For a large estate this can be a very large sum, and if you have two or more children can mean that more goes to HMRC and the UK Exchequer than is received by your children.

We have produced this handy guide which discusses some of the simpler and basic steps that can be taken to start the process of ensuring that your wishes are respected once you are no longer able to express them.

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