Despite the threshold rising to £650,000 for married couples and civil partners, the renewed increase in house prices over recent years means that inheritance tax (IHT) will still be a concern for many people. Even if the value of your property is below the threshold, other assets can easily take your estate beyond the threshold.

EBS will investigate what you can do to alleviate any potential liability as there are a myriad of options available and make simple recommendations. That is why it’s always worth talking to us.

By way of summary, the four key steps to managing your estate are:

• Make a will - EBS can refer you to a solicitor or licensed will writer for this
• Use your allowances - there are a number of one-off and regular allowances which you can use to reduce the IHT value of your estate
• Consider trusts - recent legislation has diminished some of the tax advantages of using trusts, but they still have a vital role to play
• Consider life assurance - a whole of life policy can be written to fund any potential liability

Access our free ‘Beginners Guide to Inheritance Tax’ here or get in touch. An initial consultation is available at our expense and is free from obligation.

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