Articles

Are Mirror Wills Right for Modern Families? Assessing Their Benefits and Drawbacks Today

Mirror wills can be a practical choice for couples who want a simple, joint approach to estate planning. They allow both partners to make nearly identical wills, usually leaving their assets to each other first, and then to their children or other beneficiaries after both have passed. For many modern families, mirror wills offer a […]

Common Misconceptions About LPAs—Separating Fact from Fiction and What You Need to Know

Many people misunderstand what a Lasting Power of Attorney (LPA) really is and how it works. This can lead to confusion about who can make decisions, when those decisions take effect, and what types of powers an LPA covers. An LPA is a legal document that allows someone to appoint a trusted person to make […]

Second Properties and IHT: Key Insights into Managing Buy-to-Let Portfolios and Tax Implications

When someone owns a second property, especially one used as a buy-to-let, it can have a big impact on their inheritance tax (IHT) liability. Buy-to-let portfolios and other second homes are often included in the value of an estate, which means they could increase the amount of tax owed when passing wealth to heirs. Understanding […]

Charity Giving and Inheritance Tax: How Philanthropy Can Reduce Your Bill Effectively

Leaving money to charity in a will can reduce the amount of inheritance tax an estate has to pay. Any gift made to a registered charity is exempt from inheritance tax, which lowers the overall taxable value of the estate. This means philanthropy can directly cut down the tax bill while supporting causes that matter. […]

Mirror Wills Explained: What They Are and When They Work in Estate Planning

A Mirror Will is a pair of Wills made by two people, usually spouses or partners, that contain similar or identical terms. They name each other as the main beneficiary and often include a plan for what happens if both die at the same time. This arrangement helps couples make sure their assets pass smoothly […]

Inheritance Tax Thresholds: Are You Closer Than You Think? Understanding What It Means for Your Estate Planning

Many people believe they are far from owing inheritance tax, but the truth is that more estates reach the threshold than expected. The current limit before inheritance tax applies is £325,000 per person, with additional allowances if passing on a home. This means a significant number of people may be closer to the tax threshold […]

Gifting with Purpose: How to Maximise Your Annual Allowances for Effective Wealth Planning

Making the most of annual gifting allowances can help reduce inheritance tax and pass on wealth more efficiently. By using these allowances wisely, individuals can give gifts that are free from tax and protect their estate’s value for future generations. Understanding the rules and limits around tax-free gifts ensures no opportunity is wasted each year. […]

IHT and Your Pension: The Crucial Yet Overlooked Planning Tool for Estate Efficiency

Inheritance tax (IHT) and pensions are often seen as separate parts of financial planning, but many overlook how crucial pensions can be in managing IHT. Pensions have long been a tax-efficient way to pass on wealth, but changes coming in 2027 mean retirees must rethink their strategies carefully. Understanding how pensions interact with inheritance tax […]

Passing on Wealth Without Losing Control: Effective Strategies for Securing Your Legacy

Passing on wealth to the next generation can be challenging if you want to keep control while ensuring your assets benefit your family. The key is careful planning that balances control with flexibility, using strategies like trusts, corporate structures, and estate planning tools. This helps protect your wealth and allows you to guide how it […]

Common Inheritance Tax Mistakes That Cost Families Thousands and How to Avoid Them

Many families lose thousands of pounds due to common inheritance tax (IHT) mistakes that could easily be avoided. Understanding how tax liabilities on your estate work is key to protecting your assets and reducing the amount paid to HMRC. If you don’t plan carefully, rising inheritance tax receipts mean more of your estate could be […]

Inheritance Tax and Life Insurance: Evaluating the Benefits of Placing a Policy in Trust

If you have a life insurance policy, you might wonder if putting it in trust is really worth it when thinking about inheritance tax. Placing your life insurance in trust can help your family avoid paying inheritance tax on the payout and speed up the process of receiving the money. This means your loved ones […]

The Family Home and Inheritance Tax: Strategies to Safeguard Your Most Valuable Asset

Your family home is often the most valuable asset you own, but without proper planning, a large portion of it could go to inheritance tax when you pass away. You can protect your home by using legal strategies like gifting, making use of tax thresholds, and careful estate planning to reduce or avoid inheritance tax. […]

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