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?
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?
If you and your partner are not married, it is crucial that you each make a will. Unmarried partners do not automatically inherit from each other, even in cases where they have children. This is also the case for same-sex couples who have not entered into a civil partnership.
if you are not married, or have not entered into a civil partnership together you will not benefit from the Inheritance Tax exemption on gifts and bequests to spouses, so it is important that you take professional advice to ensure that your loved ones gain the maximum possible benefit from your estate, losing as little as possible to tax.
Our team can help you to decide which measures you should take based on your individual circumstances. Contact us for more information and advice.
In this Section:
How Wills & Trusts can
help with Inheritance Tax Planning
Email the team:
wealthandwelfare
@switalskis.com
