We are speaking to more and more people who are concerned about Inheritance Tax (IHT). We are not surprised as HMRC’s IHT receipts have increased by a whopping 92% since 2010/11. We are increasingly meeting people who have built up a vast amount of wealth over their lives. They have worked hard to generate and maintain their wealth and want to be able to not only enjoy it but share it with their children/beneficiaries. They have perhaps previously not given much consideration to how to efficiently pass their estates on to their beneficiaries after their death but are more inclined to do so now.

At Montage, we believe that estate planning should not be something which you consider on your deathbed, by this time it is often too late to do anything. We believe that planning should start far earlier and should involve not just the owner of the estate, but their beneficiaries too.

We often come across clients who have the following concerns when it comes to estate and inheritance tax planning:

  • I don’t know what my inheritance tax liability is.
  • I don’t want to burden my children/beneficiaries with a huge tax bill that they cannot afford to pay.
  • Most of my net worth is tied up in my house, but I don’t want to sell my house for the purposes of inheritance tax planning.
  • I don’t want my children/beneficiaries to be forced to sell my house after my death to pay any such tax bill – I want this house to remain in my family.
  • I don’t want to gift away all my assets now for the benefit of saving on Inheritance Tax as I don’t want to affect my standard of living.

At Montage, we have worked tirelessly to devise a range of estate planning strategies and use these tools as part of an overall plan to give you peace of mind that your future generations will be well looked after.

We will work with you and your other family members to review your Inheritance Tax position and to understand your estate planning requirements, to enable our Wealth Management team to devise a plan for you. Our plan will include a comprehensive Inheritance Tax Projection, which is produced utilising our proprietary modelling software.

We like working as a team with your solicitor to ensure all sides of Inheritance Tax planning are covered, including Wills, Powers of Attorney and arrangement of Trustees.

So that you can see for yourself how Inheritance Tax is likely to affect your estate, we created an Inheritance Tax calculator. Click here to visit the calculator. Before you ask; Yes, it’s free to use. No, we don’t want your email, postcode or star sign before you can see the results.

To speak to one of our Wealth Managers about your Inheritance Tax planning, please complete the form below.

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