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?
How are trusts taxed?
The tax rules relating to trusts are quite complex and may be charged on the trustees, the beneficiary, or the settlor (the person who created the trust). How the tax is calculated depends on a number of factors, including the type of trust, and whether you have an interest in the trust yourself - for example, if you set up a trust from which you yourself receive the income.
Because of the complexity of the tax rules, it is essential that you receive expert advice specific to your situation in order to ensure that your trust allows you and your loved ones to receive the maximum benefit from your assets whilst reducing your tax obligations to a minimum. Contact our team for more information.
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?
In this Section:
How Wills & Trusts can
help with Inheritance Tax Planning
Email the team:
wealthandwelfare
@switalskis.com
