Tax law is becoming ever more complex and is continuing to change at a surprisingly rapid pace. These changes can make keeping up with the rules difficult, particularly when considering how best to preserve your assets by minimising tax payable and ensuring that your family and friends inherit exactly what you want them to have.
For example, prior to the 2008 Finance Act many people created wills with Discretionary Trusts in order to reduce their Inheritance Tax liability. The 2008 Act changed the law so that these trusts are often no longer required and could, in some circumstances create a worse financial position in respect of Inheritance Tax and Capital Gains Tax.
An up-to-date will, properly drawn by our experts is vital to ensure that when you are no longer around, your assets are dealt with as you wanted.
If you have any questions or issues our team of experts can help with advice on your tax affairs and estate planning.
