The thresholds and rules governing Inheritance Tax are issues not commonly discussed during a person’s lifetime. Here at Graham Evans & Partners LLP, we aim to provide you with all the information to help you determine what your Inheritance Tax position is, as well as creating a succinctly executed Will, to ensure that your Estate does not fall foul to an extortionate amount of Inheritance Tax.
Inheritance Tax is one of the most commonly misunderstood elements involved in creating a Will. Leaving a Will means that you can reduce the amount of Inheritance Tax you are liable to pay, whilst also making a challenging time for your loved ones that much easier, taking the burden off them to try and understand the ever-changing rules and complex scenarios that arise due to the Inheritance Tax position.
Arguably, one of the most important assets at a person’s disposal, only around 30% of people leave a Will after they have passed. Having a Will isn’t about illustrating your wealth, it’s about ensuring your loved ones receive what they deserve after you pass away, minimising conflict and uncertainty, and streamlining the probate process, when the time comes. A will is simple to write, doesn’t cost much and can save considerable time and uncertainty for your family in the long-term. However, a poorly drafted will can cause significant issues when dealing with your estate administration, and can result in your wishes not being followed.
Making sure you get your Will right the first time is what we do at Graham Evans. Our expert legal advice and team of dedicated Wills and Probate practitioners are here to guide you every step of the way. For advice that you can trust and clear explanations about how Inheritance Tax will affect your estate, please contact us today.