Are there ways I can minimise inheritance tax?
The best ways to minimise inheritance tax include, making a will, staying below the inheritance tax threshold, putting assets into a trust and giving assets away that are free from capital gains tax. There are also a number of investments that individuals can make that can qualify for BPR, which can be fully exempt from IHT, whilst retaining ownership of the assets.
What are the benefits of managing wills and probate with an accountant, rather than a law firm?
In terms of cost, accountants are more likely to offer you fixed costs, while solicitors will often take a percentage of the estate.
What are the main challenges people face when planning their estate?
Some of the main challenges we find people face include, coordinating estate planning with retirement planning, building contingencies and flexibility in the plan, protecting beneficiaries and connecting assets to the estate plan.
How long does the probate process generally take?
On average, the process will take anywhere between three to six months.
