With increasing property prices more of us face the prospect of leaving loved ones with a hefty inheritance tax bill. With proposed changes to Inheritance Tax likely to take effect later in 2008 it is advisable to take advice now
Guide to Inheritance Tax Planning Download our detailed Guide to Inheritance Tax Planning here.
The Daly Harvey Morfitt ApproachDaly Harvey Morfitt works with your solicitor and accountant to construct a holistic approach to your inheritance tax (IHT) requirements. Together we will consider: Wills – How does your will deal with your IHT issues? Pension Planning – How IHT efficient is your pension plan? Trusts – Can you use trusts to reduce the value of your estate? Gifts – Careful use of your gift allowances and any surplus income can reduce the value of your estate immediately. Discounted Gift Schemes – It may be possible to reduce IHT liability immediately without waiting seven years! Equity Release – this is an increasingly useful tool for older clients who find themselves living in a valuable property that is already over the inheritance tax threshold. Immediate Care Plans – these can be used to ring-fence the accumulated wealth of anyone who moves into permanent residential care. If nothing else everyone should look at ways of utilising their inheritance tax allowance (£300,000 in 2007/8). Contact Daly Harvey Morfitt now to discuss your estate and inheritance tax planning options. Call on 01789 299655. For details on specific services read more: Retirement planning Saving and investment strategies Mortgages Protection for yourself and your family Choose an adviser
