Inheritance Tax and Succession Planning

Our expertise in inheritance tax, trusts and estate planning helps identify options and solutions for preserving your family wealth.

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Inheritance Tax and Succession Planning

Secure your family assets with specialised inheritance tax and succession planning

Preserving your family wealth requires thoughtful consideration, particularly if there are businesses or agricultural assets involved.

Our dedicated tax planning team strives to ensure that your family wealth is preserved using effective strategies to mitigate inheritance tax and protect assets for future generations.

With a wealth of knowledge in tax, trusts and estate planning, our solicitors advise a wide range of private and corporate clients with highly individual needs and priorities. 

We will work in close partnership with you to identify the best strategy to preserve your wealth for your chosen beneficiaries. Whether it’s a well-drafted will or a more intricate solution to minimise taxes, our recommendations are designed to be pragmatic based on an in-depth understanding of your circumstances and concerns.

Lifetime trusts continue to play a pivotal role in designing tax-saving and asset protection strategies, especially when businesses or agricultural assets are involved. They are equally important when it comes to looking after young or vulnerable beneficiaries.

For businesses, we focus on solutions to enable the continuation of your business, protect the welfare of your employees and minimise the impact of taxes where possible. We collaborate with corporate and family teams, financial planners and accountants where necessary to provide comprehensive tailored solutions.

Several of our solicitors are members of the Society of Trust and Estate Practitioners (STEP), the leading professional body for trust and estate practitioners. This ensures that we stay abreast of the latest developments in this intricate area of law, enabling us to offer proactive advice on current and future matters.

Our ability to explain complex issues clearly and our track record of implementing solutions efficiently means we are frequently approached through word of mouth. To discuss how we can help secure your family’s future with tailored inheritance and succession planning, please get in touch with a member of the team in St Albans, Harpenden or Luton.


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FAQs

Frequently asked questions

What is Inheritance Tax and how does it affect me?

Inheritance Tax (IHT) is a tax on the estate of a deceased individual. IHT can also arise on certain gifts made during a deceased’s lifetime and may be payable on certain types of trust.

IHT is currently chargeable on an estate at a rate of 40%. However, there are several allowances, exemptions, and reliefs that can be applied prior to IHT becoming payable.

Who pays Inheritance Tax?

IHT on your estate following your death is payable by your Executors out of your estate.

Unless otherwise stated, IHT on lifetime gifts will generally be paid by the recipient of the gift.

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