Making a Will

Distributing financial wealth or possessions in an orderly fashion

A valid Will is an incredibly important part of estate preservation planning and will ensure that should the worst happen, your assets, whether they be financial wealth or possessions, are distributed in an orderly fashion to the right beneficiaries.

Types of lasting power of attorney

 

 

Lifetime transfers

Remember the seven-year rule

An outright gift falls into one of two categories, depending on the type of gift and to whom it’s made. These categories are Potentially Exempt Transfers (PETs) and Chargeable Lifetime Transfers (CLTs).

Inheritance Tax Residence Nil-Rate Band

Owning a residence which you leave to direct descendants

The introduction of the ‘residence nil-rate band’ (RNRB) has made it easier for some individuals to pass on the family home. The rise in property prices throughout the UK means that even those with modest assets may exceed the £325,000 ‘nil-rate band’ (NRB) for Inheritance Tax.