Our lawyers work with high net worth individuals to ensure they minimise their tax liability through tailored inheritance tax planning. We help UK domiciled, as well as non-domiciled individuals and ensure their hard earned wealth is not all passed on to the state. We use a variety of techniques to achieve this.
Writing and reviewing your will
Having a carefully constructed will that considers all of your personal needs is the first step to reducing you inheritance tax. However, our clients often have complex financial structures such as owning a business, numerous properties or having significant pensions or savings. Our lawyers can draft your will to ensure your wealth is passed to the right people when you die.
It is also important you update your Will as and when your circumstances change. Otherwise your Will may no longer suit your needs.
Trusts can be an excellent way of reducing your inheritance tax liability. Our expert lawyers have extensive experience advising on all trust matters. Find out more on our trusts page.
Lifetime tax planning
There are several ways to reduce your inheritance tax liability during your lifetime, including:
- Annual exemptions
- Gifts on marriage
- Regular gifts from surplus income
- Gift and loan trusts
- Discounted gift trusts
- Business property investments
Some of these enable you to continue to receive the income from your investments while moving your capital outside your estates. Therefore, by taking advantage of these in your lifetime you can significantly reduce you inheritance tax liability upon death.
Our lawyers are experts in inheritance tax planning. Our team includes the previous head of Private Client Estate Planning at PricewaterhouseCoopers Legal. We have plenty of experience helping people understand their inheritance tax liability and protecting wealth.