Estate Planning

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    Legacy Legal Solicitors provide a free no obligation advice at the comfort of your own home, please contact us now to arrange an appointment.

    Inheritance Tax (IHT) is applicable when an individual is over their £325,000 Nil Rate Band and after their death then the beneficiaries (e.g. children) will be liable to pay 40% inheritance Tax before inheriting any of the Individuals estate.

    Our Legal Experts have effective mechanisms in place to mitigate an individuals IHT.

    Example

    John lives in his family Home valued at £380,000, he has £15,000 in his bank account, shares/Isas worth £9,000 and one rental property valued at £125,000.

    Family Home £380,000
    Bank Account £15,000
    Shares/ ISAS £9,000
    Rental House £125,000

    Total Estate Value: £529,000
    Over Nil Rate Band (£325,000) £204,000
    IHT 40% Tax £81,600

    John’s beneficiaries would have to pay the £81,600 Inheritance Tax Bill before inheriting any of John’s estate (properties and money).

    With more than 35 years experience, we at Legacy Legal Solicitors can help mitigate your Inheritance Tax, please contact us today.