Estates and trusts

How do I protect my family when I die?

Because we are only human, we want to ensure that as much as possible of our wealth goes to those we care for when the inevitable happens.  We do not usually include HMRC in that list of loved-ones.  There is much that can be done to plan to ensure that HMRC are not the main beneficiary of your estate, but the earlier you start the better.

  • Ian Abrey

    Ian Abrey

    Principal

    Ian joined Hillier Hopkins from Mazars in 2008. He advises high net worth individuals, owner managed businesses and family company shareholders on personal tax matters.

    Contact Ian at our London office

    Read more
Can I reduce my IHT bill?

There are some generous reliefs available, especially for business property (which includes certain types of shares in your family business), and agricultural property.  Some of the complications in wills of the past have been eliminated by changes in the rules allowing better use of Inheritance Tax (IHT) exemptions.  On the other hand, the massive rise in the value of houses has meant that for many people, IHT is now a much more important issue than it once was.  It is almost always worth reviewing your situation regularly to ensure that your estate will not suffer more tax than it has to.

Will my overseas wealth escape IHT?

Trusts can be useful in planning for tax, but have many other important benefits too.  These include protecting your estate from wayward offspring, ensuring that a child’s inheritance does not form part of a marital estate (though this is not bullet-proof), or even protecting assets if you fear you may suffer an unfair liability to someone else in the future.  These benefits become both more interesting and more complex if overseas assets are involved, as, yes, usually, IHT is payable on your worldwide estate, and you may have to deal with legal systems which do not recognise trusts.

Making a gift to charity in a will is usually tax exempt, and we can even help you set up a charitable trust in advance ready to receive your gift when the time comes that your estate is distributed.  

To find out more, call us on  +44(0)330 024 3200 and speak to one of our estates and trusts experts.

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