Surviving spouse passes excess to children free of IHT
Surplus wealth passed down during lifetime can be an effective way of reducing or eliminating IHT upon death.
Estate planning and passing down the family business
Successful business owners plan for succession of their company to their children through lifetime planning together with their wills.
Protecting a farming family estate for future generations
Transfer of assets during lifetime saves family millions in IHT
Tax planning advice was sought by the owners of a large family estate. They wanted to ensure that wealth could be maximised for future generations, but wished to remain living on the family estate, accessing the facilities during their lifetime. We were able to identify the current and future needs of the family and make lifetime transfers to the children while protecting the parents’ rights and occupation of the land.
A potential IHT saving of £270,000
The importance of obtaining specialist advice when dealing with shares held in trust
Mark advised the trustees of a discretionary trust on various issues relating to a legacy of shares in a family trading company. The deceased’s Will left shares worth around £15 million to the trust.
Deed of Variation allowed client to be taxed at their children's lower rates
Our client's father-in-law died, leaving his estate to our client’s husband, who subsequently died. Our client was the beneficiary of both estates
Marriage avoids potential double charge to Inheritance Tax!
Farming estates & inheritance tax
This case study demonstrates the expertise of our Wills, Trusts & Tax Planning team who have recently settled a farming case, saving a potential IHT liability of over £500,000.
