John Murray © 2007 All Rights Reserved
Having an Inheritance Tax liability without knowing it can have serious implications for those named in your will. Your executors have to arrange for the payment of this tax before probate is granted; and some of your loved ones will be left with less than you may have originally planned.
As a normal part of our consultation with you we will check to see if you have a liability. If so, the good news is that you can take advantage of a Nil Rate Band Discretionary Trust that can remove the Inheritance Tax liability from the first £600,000 of a joint estate. If your joint estate is worth less than this figure then you won’t be liable for any Inheritance Tax - who says having a will is dull and boring!
This form of trust offers huge benefits because of its flexibility and the protection it offers to your surviving spouse.
“Inheritance Tax revenue doubles as Labour hits the family”
Daily Mail, July 22, 2006
