Inheritance Tax Planning

How to avoid inheritance tax

With increasing property prices, more of us face the prospect of leaving loved ones with a hefty inheritance tax (IHT) charge. With changes to IHT continuing to evolve, it is prudent to seek advice now.

The DHM Wynchwood LLP Approach

DHM Wynchwood LLP works with your solicitor and accountant to construct a holistic approach to your IHT mitigation plan. Together we will consider:

Wills – How does your will deal with your IHT issues?

Pension Planning – How IHT-efficient is your pension plan?

Trusts – Can you use trusts to reduce the value of your estate?

Gifts – Careful use of your gift allowances and any surplus income can reduce the value of your estate immediately.

Discounted Gift Schemes – It may be possible to reduce IHT liability immediately without waiting seven years.

Equity Release – This is an increasingly useful tool for older clients who find themselves living in a valuable property that is already over the IHT threshold.

Immediate Care Plans – These can be used to ring-fence the accumulated wealth of anyone who moves into permanent residential care.