Frequently asked questions on Inheritance Tax at Assured Legacies

Q. There is no Inheritance Tax liability between husband and wife so why should we bother?

A. Quite right, but the problem arises when the second person dies. The fact that they are now worth what the pair of you used to be worth with only their personal tax free allowance could cause a massive liability. This can be dramatically reduced or removed altogether.

Q. We only have a modest estate, a small house, a few savings and not much else so surely we haven't got an Inheritance Tax problem?

A. Probably yes, the huge rise in property values alone over the past few years coupled with the miserly increase in the tax free allowance by the chancellor has meant that virtually every property owner (certainly in the south-east of the country) has a potential liability. This can be dramatically reduced or removed altogether.

Q. I am a single property owner and know that I have an Inheritance Tax liability can anything be done to help me?

A. Almost definitely, there are services available that can be tailored to suit most circumstances, with a little careful planning and specialist advice to address the liability. This can be dramatically reduced or removed altogether.

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