You have worked hard throughout your life to accumulate and preserve your wealth. I’m sure you want to enjoy what you have worked so hard for but at the same time ensuring that what you have acquired is passed onto your family in a tax efficient manner.
There are many things to consider when you consider your family after you have gone. Protecting your estate is ultimately about securing your wealth for your loved ones after your death. Whilst it’s not nice to think about, it does mean that your loved ones can have the life you would like them to have.
A lasting legacy is an achievable goal. But without proper planning your family could lose up to 40% of their inheritance through taxation. I’m confident that your will does not read “to my friends at HM Revenue & Customs (HMRC), I leave 40% of my estate”.
Inheritance Tax (IHT) was once famously described as a “voluntary levy paid by those who distrust their heirs more than they like the Inland Revenue” by Roy Jenkins, a former Chancellor of the Exchequer. When Gordon Brown was Chancellor of the Exchequer, he called IHT a “voluntary tax” because he said there were many ways to avoid it.
I can guide you through the various options available and help you find the most tax-efficient ways to organise your assets. However, do remember that estate planning is not just about passing on money when you die – it’s also about enjoying your life now and ensuring you have enough money to live on.
I will be able to help you not to pay this “voluntary tax” and make sure that your money ends up with the people you want, when you want.