Inheritance tax: Does gifting my house reduce it?If there is one thing that seems to be a common concern and annoyance to this setting up their will, it is the idea of their loved ones paying inheritance tax. Inheritance is a tax that has been created to be charged to those who are inheriting money or a property from someone in their will.The charge for inheritance tax is 40% and it applies to an estate that is worth more...
If you have a valid Will in place already, then you have taken steps to protect your family and assets against the rules of intestacy. But not everyone has a will in place.. (70% of the UK's population to be more accurate) but why is this and why would you not want to protect your assets and family after you're gone.How many of the following facts did you know about dying without making a Will?If you die without...
As parents we all hope that we are going to be in our children's lives for as long as possible, seeing them grow and develop. Of course, for many of us this is the case and we get to be there for all their main milestones, however, for some this is cut short, perhaps due to an illness or an accident. We are taken from our children and someone else is going to have to raise them, all without...
Using a trust to cut your Inheritance Tax We all hope that as long as we are alive, that we are able to manage our own money and our own property too. For many people this might be the case, however, for other people there comes a time when they are not able to manage their own finances and they need someone to take charge. This is where the idea of setting up a trust comes into play.But what is...
