Thinking of gifting your house to your children?

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...

Using a trust to cut your Inheritance Tax

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...