Married? Assets in excess of £300,00?
Make a will and save up to £120,000 in tax
If you are married then you don't pay inheritance
tax on bequests to each other but children and other heirs pay
inheritance tax at 40% on anything over the 'nil rate band' -
currently £300,000.
By leaving some assets to a discretionary will
trust you can ensure that your ultimate beneficiaries benefit
from two nil rate bands rather than one and therefore save up
to £120,000 in inheritance tax. The arrangement allows you
to use your home as an inheritance tax planning tool if required
and can be set up so that the surviving spouse is financially
secure.
If you would like further details about dgb's
progressive inheritance tax planning please contact Colin Moore,
partner in our private client department.
