Lifetime gifts and inheritance tax
Your estate may be subject to inheritance tax on your death, with less being left to pass to your loved ones.
Your estate may be subject to inheritance tax on your death, with less being left to pass to your loved ones.
An LPA is a powerful document, enabling you to appoint an individual or individuals of your choosing to manage your financial affairs.
Many people are aware that a Will is important; but most people do not have one and do not appreciate why it is as important
While you do not need a solicitor to draw up your Will, your choice of professional is important. Leaving a Will which does not accurately reflect your wishes, or which is drafted in a way which gives rise to unnecessary tax liabilities for your estate, sadly risks causing distress to your loved ones.
We all want the best for our children; health, happiness, a good education and financial security. But what other steps should you be taking now to protect their future, particularly when you are no longer around to do so?
For many people, owning a holiday home is a major aspiration. Having a place to enjoy for leisure and recreation purposes has definite appeal, and demand for UK holiday homes has significantly increased over the last 18 months, in light of the COVID-19 pandemic. However, owning one may have Inheritance Tax (IHT) and Capital Gains Tax (CGT) implications which should be considered.
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