What is inheritance tax (IHT)?
Inheritance Tax (IHT) in the UK is a levy on the estate (property, money, and possessions) of someone who has died. Understanding how inheritance tax works is crucial for...
FAQ Category: Succession and Estate Planning
What are nil rate bands?
Inheritance tax (IHT) is a subject that often raises more questions than answers, especially when understanding complex terms like nil rate bands. Knowledge about these bands can significantly affect...
What should I consider when selecting an executor or trustee for my estate plan?
Estate planning is vital in securing your legacy and ensuring your loved ones are cared for after you’re gone. One of the most crucial decisions you’ll face in this...
How often should I review and update my estate plan?
It’s a good idea to review and update your estate plan regularly to ensure that it continues to reflect your wishes and meets your current aspirations. When safeguarding your...
What happens if I die without a will or an estate plan?
Death is an uncomfortable subject, but planning for what happens after we pass away is something we all have to deal with sooner or later. In the UK, dying...
Can I leave assets to charity in my estate plan?
Leaving assets to charity through your estate plan is a meaningful way to ensure that your values live on and that you support causes close to your heart. This...
How can I minimise the taxes on my estate?
There are several strategies that can be used to minimize taxes on your estate. However, everyones circumstance are different. Here are some examples: It’s important to note that tax...
Do I need Lasting Power of Attorney (LPA)?
Making decisions about your future takes work. Still, one key consideration for UK residents is whether to establish a Lasting Power of Attorney (LPA). The LPA is a legal...
What is a lasting power of attorney?
A Lasting Power of Attorney (LPA) is a crucial legal document that every individual in the UK should consider. But what exactly does it entail? In essence, an LPA...
What benefits can a trust have?
Trusts are increasingly popular for estate planning, asset protection, and more. But what exactly are the benefits of a trust, and why might you consider setting one up? Let’s...
