Shacklocks Solicitors
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Choose not to pay Inheritance Tax

Although Benjamin Franklin told us that ‘in this world nothing is certain but death and taxes’ the reality is that the Inheritance Tax need not be a certainty and indeed is sometimes seen as a voluntary tax that many people pay simply because they have failed to put their affairs in order.

"I am very grateful for what you have done for me. You have been on the ball throughout whilst dealing with my needs."
Client of the Private Client team

We see a number of situations where Inheritance Tax becomes payable where it could have been avoided with appropriate planning in advance.

Many people decide that the way in which they can save Inheritance Tax might be to pass on their assets to others whilst they are still alive, but this can bring about concerns relating to issues of control and trust in the future.

Perhaps for example the person to whom you have transferred wealth becomes embroiled in a bitter divorce battle, has financial difficulties of their own, becomes subjected to unhelpful influences or – less dramatically but just as devastating – you drift apart or your relationship breaks down completely.

Or you may find that having passed on your assets your future requirements can no longer be met. On the other hand many people hold back from dealing sensibly with their assets by good Inheritance Tax Planning because they fear that they may require assets in the future to meet their nursing care costs if their health fails in later life.

We believe that that the solutions that we offer to the Inheritance Tax dilemma continue to allow existing peace of mind to be preserved even after the planning has taken place. Despite what Roy Jenkins envisaged there is no need to lose complete control and there is no need to put your trust into the hands of family members in order to plan effectively for Inheritance Tax. Similarly there is no need to harbour fears about funding future nursing care if the correct Inheritance Tax vehicle is selected at outset to ensure a degree of flexibility and the scope to provide future income that can help fund nursing care costs.

To see how we can help you to safeguard your families inheritance whilst still retaining your own peace of mind please give us a call today and speak to one of our specialist who will be happy to outline how a tailored solution to meet your requirements is only a call away.