Inheritance Tax Planning
What assets are taken into account and how much do I pay?
- Your main residence and any other properties you may own.
- Any life assurance policies not written in trust, shares or stocks, savings & investments, businesses & all personal items of any significant value.
- Inheritance tax is currently payable at 40% of the value of the estate over £325,000. (information is based on our understanding of current legislation particularly relating to taxation and may be subject to change in the future).
Do I have to pay it ?
Unless the estate is passing to your spouse or to charity, Inheritance Tax will always be payable on the part of your estate above £325,000. However there are some effective ways to help ensure that your estate remains intact for the benefit of those you intended. Speak to Wright & Lord Financial Services who will review your situation and recommend a specially designed package to help protect what is rightfully yours.
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- Legal Services Wright & Lord Solicitors provide domestic and commercial legal services and are regulated by the SRA.
- IT Services Wright & Lord IT Services is owned by Wright & Lord Solicitors, but as the name suggests, it doesn't provide legal services. So it is not regulated by the SRA, however, it does provide business with specialist technology systems and provides both equipment and support.