Isamor Financial Planning Services Ltd

Estate planning and inheritance tax planning are important considerations for anyone looking to protect their assets and ensure that their loved ones are taken care of after their death.

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We understand that the thought of what will happen to your assets and loved ones after you are gone can be daunting. That's why we offer a range of estate planning and inheritance tax planning services to help you make informed decisions about the future.

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Some of the ways we help clients plan include:

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1. Make a will: By making a will, you can specify how you want your assets to be distributed after your death and minimise the impact of inheritance tax on your beneficiaries.

2. Use exemptions and reliefs: There are several exemptions and reliefs available that can reduce the amount of inheritance tax you have to pay. For example, you can pass on your home to a spouse or civil partner tax-free, or you can use the annual gift allowance to make gifts to your heirs without incurring tax.

3. Make use of trusts: Trusts can be used to hold assets on behalf of your heirs, allowing you to pass on your wealth in a tax-efficient manner. There are several types of trusts that can be used for this purpose, including bare trusts, interest in possession trusts, and discretionary trusts.

4. Use a life insurance policy: By taking out a life insurance policy, you can ensure that your beneficiaries have the funds they need to pay any inheritance tax that might be due. The proceeds of the policy will be paid to your beneficiaries tax-free.

5. Consider charitable donations: Making charitable donations can also help to reduce the amount of inheritance tax that you have to pay. Charitable donations made in the seven years prior to your death can be deducted from the value of your estate for inheritance tax purposes.

 

It is important to note that these are just a few of the ways in which you can mitigate inheritance tax in the UK. We would consider the right avenues to suit your objectives. 

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By taking the time to carefully plan for the future, you can ensure that your assets are distributed in a way that is fair and tax-efficient, and that your loved ones are provided for after your death.

Don't let the thought of inheritance tax or the complexities of estate planning weigh on your mind. Contact us today to discuss your options and start planning for the future.

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Please note that the FCA do not regulate will writing, tax planning and trusts.