As Benjamin Franklin once said “In this world nothing can be said to be certain, except death and taxes”, and inheritance tax manages to combine both. It would therefore be reasonable to conclude that there is nothing more certain than inheritance tax! However this is certainly not the case and whilst it is no longer true to say that inheritance tax is a voluntary tax there are still sufficient reliefs and planning opportunities to greatly mitigate (in some circumstances eradicate) its impact on inter generational transfers of assets. Whatever your circumstances we can assist with your planning needs and in securing the value of family property.
We can also assist with planning your finances in order to protect your estate from local authority and NHS requirements to pay for care for the elderly. Given the current costs of providing residential care for elderly relatives (fees for which can exceed £1000 a day) the requirement for families to fund the care themselves rather than the local authority or NHS can seriously and quickly deplete the value of the relatives’ estate.