This vital activity cannot be overlooked by anyone who owns their own home these days as the value of that asset alone will in many cases bring the estate within the punitive clutches of 40% tax.  Our services will help you with the following:-

• A net worth statement from which the potential liability is calculated
• An assessment as to whether gifting is a suitable solution taking into account the potential need to retain a right to income from capital
• Whether your wills should be revised to make them more efficient from an estate planning perspective
• Consideration as to whether enduring powers of attorney (to be replaced with lifetime powers of attorney) are appropriate
• Whether a short term solution is appropriate until you feel that gifting assets is possible
• A review of the annual allowances, including gifts from normal expenditure, to see whether these can be used effectively
• For clients with a higher risk profile, using business property relief from a basket of qualifying shares can be an effective method of saving inheritance tax

This is a complex area of tax planning and individual advice is essential as, in making gifts, you will often lose the right to benefit from the capital being removed from your estate.