Home About us Wills Tax planning   Tax calculation Probate Powers of attorney Contact us Call us on 01223 834655 or	Inheritance Tax Planning & Trusts In recent years there has been a dramatic increase in house prices, but this has not been matched by a comparable rise in the allowances for Inheritance Tax. If you are married or in a Civil Partnership, then any money or belongings passing to your surviving spouse or Civil Partner is free of Inheritance Tax. However, do not let this lull you into a false sense of security. As you can see in the example, Inheritance Tax Planning in your Will can make significant savings, but does not leave the surviving spouse in financial difficulties. The Trust fund is primarily for the benefit of the surviving spouse during their lifetime, but other members of the family or friends you may wish to benefit are listed as potential beneficiaries. Access to the Trust fund means that surviving spouse is not left without means to continue living comfortably. The amount of Inheritance Tax to pay can be further reduced by the use of Trusts and other methods. We can help you by discussing your needs and preparing any relevant Trust documents for you and/or introducing you to an independent financial advisor who will be able assist you further.	“Inheritance Tax Planning in your Will can make significant savings, but does not leave the surviving spouse in financial difficulties.” There has been much publicity regarding the proposed "transferable allowance" for Inheritance Tax. We believe that, even with these changes, there will still be many benefits to your family by including a Discretionary Trust in your Will. If you are concerned about this, please don't hesitate to give us a call!
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