Inheritance Tax Planning

At Murria, we know how important it is for you to make sure your loved ones are taken care of when you die. Therefore, our specialist Inheritance Tax Planning / Estate Planning team are on hand to help maximise the amount you’re able to leave behind for them.

When you die, in some cases inheritance tax has to be paid on your estate before probate can be granted and your inheritance can be released. Your taxable estate includes the following:

• your home, plus any other properties that you own both residential and commercial
• all your possessions such as gold, cars, and household items
• all bank accounts, building society accounts, investments and ISAs
• any insurance policies that are not written up in trusts
• any assets situated abroad

Unfortunately, if adequate plans are not made, inheritance tax can take a substantial proportion of your estate away from your family and loved ones.

Murria Solicitors can help reduce your inheritance tax in a variety of ways, including but not limited to:

• setting up a life insurance policy into a trust to make them exempt from Inheritance Tax
• leaving some of your estate to charity
• making gifts
• business succession planning
• will restructuring
• protecting your Residential Nil Rate Band
• advising on the level of cover required for inheritance tax insurance deeds of variation

For more advice and guidance in this crucially important area, give us a call at Murria Solicitors today and ask to speak to one of our Inheritance Tax Planning specialists.