Estate Planning and Inheritance Tax

It is incredibly important that your wealth ends up with the people you love, at the right time. You’ve worked hard to accrue your capital, so care should be given to passing it on to the right people, in the most tax efficient manner. Estate planning is often the final step you’ll take, but equally one of the most important.

Estate planning is so much more than saving on Inheritance Tax (IHT) – it’s about being able to enjoy your wealth now while ensuring your assets end up in the right hands and helping your beneficiaries avoid costly payments.

IHT can be levied at significant levels above certain reliefs and allowances, meaning HM Treasury often ends up being the primary beneficiary of our estates. We’ll work with you and your tax adviser to create a plan which may offer significant tax savings and help to provide a greater proportion of your wealth to your loved ones.

One of the best things you can do is to plan around IHT early on. We’re well positioned to advise on IHT risks at all stages of life and to identify how this may impact your life goals and objectives.

There are various means to reduce an IHT burden and we’ll advise you on each one’s suitability according to your unique situation. We may consider gifting your assets, taking out life assurance, increasing your pension funding or investing in Business Property Relief qualifying investments. Our financial advisers will listen to your goals and help to craft your strategy. Our legal colleagues at Anderson Strathern can also provide a comprehensive suite of tax services.

We’ll use our expert insight to develop a comprehensive plan demonstrating how much you can realistically afford to gift to your loved ones, while ensuring you get the most from life. Let us help you to strike this challenging balance.

Anderson Strathern Asset Management Limited is authorised and regulated by the Financial Conduct Authority.

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If you’d like to discuss how we might assist you with your pension needs, please contact us.