“Nothing is certain but death and taxes” commented Benjamin Franklin and his words have as much resonance in 2010 as they did in 1789. Inheritance tax (IHT) is no longer seen as a tax on just the very wealthy. With the average house price in the UK standing at around £165,000 and the IHT band now frozen by the current Government for the next four or five years, sensible planning has become even more important for homeowners with only modest savings.

Without the right estate and inheritance tax (IHT) planning, inheritance tax could substantially reduce the value of the estate that you are able to leave to your loved ones. However, whilst inheritance tax savings are important, it is also vital to ensure that families and their dependents are fully protected at all times.

As a result, estate planning is a fundamental part of the holistic advice process that we offer here at Adcock Financial, both at our Nottinghamshire office and our Surrey office in Richmond. We can offer advice in the following areas of estate planning and Inheritance Tax (IHT) planning:

• The drafting of effective and where necessary tax-efficient wills
• Advice on the effective use of the IHT Nil-Rate Band exemption, which is available to everyone in the UK
• Advice on efficient gifting strategies, including Potentially Exempt Transfers, annual gifts and other tax-favoured situations
• The uses and benefits of trusts, both within an investor’s lifetime and during the drafting of wills
• More complex, bespoke advice tailored to an individual family situation
• IHT efficient investments such as Discounted Gift Trusts, Woodland and other suitable products

Estate and Inheritance Tax planning requires a great deal of thought and care but can be very effective. With help from our experts in Nottinghamshire and Richmond in Surrey, you can protect your family’s wealth and secure a sound financial future for your children and grandchildren.

We are also very happy to recommend suitable Nottinghamshire, Richmond and Surrey-based solicitors to advise and assist you with the drafting of appropriate documents such as wills and trusts, and to work with them in achieving your objectives in a cost-effective manner.

How to find out more

To find out more about how we can help you with your estate planning or Inheritance Tax (IHT) planning, contact our independent financial advisers at our Ravenshead office in Nottinghamshire on 01623 490120 or our Richmond office in Surrey on 02089 732410. Alternatively, email us at info@adcockfinancial.co.uk.