Tax & Estate Planning
Practice Area Specialist:
Lorraine Whitfield is a Partner of the firm and heads the Private Client team. She helps clients to plan their estates, advises on the mitigation of Inheritance Tax as well as drafting their Wills and dealing with their property. She also advises on Tax Planning, Trusts, Lasting Powers of Attorney, Court of Protection applications and related property law.
Many estates do not attract a charge of inheritance tax but as property prices have increased, many more estates fall within the value of estates where inheritance tax will be payable.
When you die, a portion of your estate can be left to your beneficiaries tax free, but after your tax free allowance has been used, the balance of your estate may be subject to an inheritance tax charge which is currently 40%.
We can help you minimise the impact that inheritance tax will have upon your estate by advising you about tax planning and gifts during your lifetime. Putting in place plans early can minimise the impact that inheritance tax may have upon your estate and your beneficiaries.
Inheritance tax is an area that is often subject to change due to changes in legislation and personal circumstances often change. With this in mind, it is sensible to review your estate at least every five years to ensure that it is being dealt with in the most tax-efficient way.
Stillwells’ experienced team of specialists can guide and advise you through the complex issues of taxation. Contact us today on 023 8072 7171 for a no obligation discussion about the options available to you.