Frequently asked questions about Wills, Trusts and Inheritance Tax
Below are some of the questions clients ask our team. Click on the questions to find out more.
Is making a will complicated and expensive?
What is inheritance tax and how can I reduce the amount payable on my estate?
Can I change my will, and how often should I review it?
What are the main tax benefits of setting up a trust?
Who should I appoint as trustees?
How long should the trust last for?
What is the threshold for Inheritance Tax?
In the tax year 2011-12, the Inheritance Tax threshold is £325,000. Any amount above this level is taxed at 40%.
With recent rises in property prices, it is all too easy to pass the threshold, so it is well worthwhile planning now so that your loved ones do not lose an unnecessarily high amount of their inheritance to tax. Contact our team to find out more about how we can help you.
Are there any exemptions from Inheritance Tax?
Can I reduce my Inheritance Tax liability by giving family members their inheritance before I die?
My partner and I are not married - how can we reduce our inheritance tax liability?
In this Section:
How Wills & Trusts can
help with Inheritance Tax Planning
Email the team:
wealthandwelfare
@switalskis.com
