Estate Planning
Estate Planning
Estate planning involves putting your affairs in order now to make it easier for your loved ones when you’ve passed. You can relax knowing everything will be taken care in the manner you wish, and you are leaving your family members with more clarity and less stress.
Proper planning now can also help you be tax efficient and avoid inheritance tax, protecting your legacy.
Inheritance Tax
Inheritance Tax (IHT) is a tax imposed on the estate of someone who has passed away. The deceased’s ‘estate’ is the value of everything that person leaves behind, including cash, investments, belongings, and property.
Some people don’t realise that a large proportion of your wealth, including property and even family heirlooms, may need to be sold to cover the tax bill when you pass.