Will I pay Inheritance Tax?
The simple answer to this is, No, you won't. But your descendants might
The subject of Inheritance Tax is very complex. Maplebrook Wills offer sophisticated and elegant tax planning, to help you protect and pass on as much of your estate as possible. We often work alongside your own professional advisor such as your Accountant, Financial Advisor, Mortgage Advisor or Protection Specialist. If your estate is worth £325,000 or more then you will definitely need to seek advice on the best methods of Inheritance Tax Planning. Even if your estate is less than £325,000, now is the time to plan forward.
To work out your estate value, you may need to include any Life Insurance. We often come across clients with an estate of under £325,000 but with Life Insurance that could easily tip the estate value over this and into potential Inheritance Tax liability levels. Don't leave it to chance, don't leave your descendants with a huge tax bill that they may not have the funds to pay.