Inheritance Tax
Inheritance Tax is a tax paid on the value of your estate at the time of your death.
Its payable if the money and assets you have when you die are worth over £325,000. In some circumstances it can be payable on trusts or gifts made within 7 years of death.
Whilst £325,000 may seem a lot, if you own your own home, and maybe have some savings you could find yourself liable, especially if your home has risen in value considerably since you bought it.
Typically the executor or personal representative pays the Inheritance Tax using funds from the Deceased's estate, and this must be payed BEFORE the estate is distributed amongst the beneficiaries indicated in your Will.
You've worked hard all your life and probably want to pass on the fruits of your labour to loved ones when you die.
Don't let the taxman get his hands on your assets! Call the Probate Bureau now to find out how to navigate this complex area, and make sure you don't end up paying tax which is avoidable
Its payable if the money and assets you have when you die are worth over £325,000. In some circumstances it can be payable on trusts or gifts made within 7 years of death.
Whilst £325,000 may seem a lot, if you own your own home, and maybe have some savings you could find yourself liable, especially if your home has risen in value considerably since you bought it.
Typically the executor or personal representative pays the Inheritance Tax using funds from the Deceased's estate, and this must be payed BEFORE the estate is distributed amongst the beneficiaries indicated in your Will.
You've worked hard all your life and probably want to pass on the fruits of your labour to loved ones when you die.
Don't let the taxman get his hands on your assets! Call the Probate Bureau now to find out how to navigate this complex area, and make sure you don't end up paying tax which is avoidable
