Making provision for your beneficiaries
Although not an easy matter to consider, if you wish to maximise provision for your beneficiaries, you do need to plan your affairs in advance.
The earlier you make arrangements, the greater the chance of taking full advantage of the inheritance tax planning opportunities available and thereby minimising the amount of money that is paid over to H M Revenue & Customs.
There are many issues to consider when planning to transfer your estate and you need to ensure that you strike the right balance between maximising tax savings and making adequate provision for yourself and your family during later life.
We can help you:
- Review the terms of your will
- Utilise exemptions and lower tax rates on lifetime transfers of assets including transfers between spouses
- Transfer a business (including shares in family companies) or agricultural property
- Transfer assets into trusts
Call your local MFW office for further information on Inheritance Tax or to book a free initial consultation.