Even if you have a will, have you thought about how much Inheritance Tax (IHT) might arise when you pass away? IHT is due at 40% on everything over the Nil Rate Band (NRB).
The NRB is £325,000 per person, or £650,000 for a married couple. This is being extended by £175,000 per person, for estate comprised in a matrimonial home. A married couple’s estate of up to £1,000,000, could be free from IHT by 2020/21. But with house prices rising all the time, will this be enough?
We can help you plan to pay less IHT. There are many steps that can be taken to reduce IHT. We can sit down and discuss them with you. Importantly, don’t leave it too late to do something.
If you want to talk with us about the above, please call us. We are here to help.
How can we help you:
If you are an existing customer please call or email your Cook and Partners contact.
Alternatively, if you are new to Cook and Partner’s call us on 01992 554 444 to speak to a member of the team who will be glad to assist or introduce you to one of our probate specialists.