Maxwell Hodge
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Flying the flag for families

Our first class legal team is specifically designed to give
you and your family the complete service, with
strength, support and efficiency throughout.

Inheritance and Estate Planning

Inheritance Tax is a tax which is payable on the overall value of an estate where the value is over £325,000.  Anything over the value of £325,000 (2010/2011) is taxed at 40%.

Dying is something that few of us like to think about and even less of us like the thought of handing over more of our hard earned cash to the taxman than is necessary.

None of us know when our time will come and that is why it is so important to act now and seek advice on Inheritance tax and Estate Planning whilst you still can.  The earlier you act the greater chance you have of taking full advantage of the opportunities available and maximising the inheritance that passes on to your loved ones.

We can help you with:

  • Drawing up a tax efficient Will
  • Making sure you make full use of your tax exemptions on lifetime transfers
  • Optimising lifetime transfers between spouses
  • Protecting your property from the Local Authority
  • Transferring assets into Trusts

When considering Inheritance Tax & Estate Planning it is important to ensure that you make adequate provision for you and your spouse in later years.  Striking a balance between saving on tax and ensuring you have a comfortable retirement is often a difficult task, however, we have the knowledge and experience to assist you when considering such important decisions.

Recent changes in law now make it possible for a surviving spouse to utilise their own nil rate band (currently £325,000) and also utilise any unused nil rate band from the first spouse’s death.  This could potentially mean a double inheritance tax exemption (i.e. £325,000 x 2) could be applied to your estate.  Contact our specialised Inheritance Tax & Estate Planning Solicitors for further information.

If somebody has died without leaving a tax efficient Will, or without a making a Will at all, all is not lost.  It may be possible (within 2 years from the date of death) to rearrange the way they have left their assets and redistribute them in a more tax efficient manner.  Because of the strict time limits it is important to seek advice as soon as possible.

Contact us for further information about how we can help you to maximise the assets that you can pass on to your chosen beneficiaries.