None of us like to think about our own death, yet careful estate planning is one of the most thoughtful things we can do for our loved ones. Making a Will and protecting against inheritance tax can seem scary and confusing. It doesn't need to be that way. We can give you advice to make the right decisions for your future. Even though you may want to leave money, possessions, and perhaps even your home to your loved ones they may have to pay an IHT bill before your estate is released.  This could seriously affect your loved ones finances, as they may need to raise money or possibly even take out a loan to pay the IHT bill.   Into 2014/2015 the tax take for this year was £3.8 billion and in 2015/2016 this had increased significantly to £4.8 billion: this is an increase of an eye watering 22%. - Source© Institute for Fiscal Studies, 2016 – ‘A Survey of the UK Tax System’ With the right estate and IHT planning, this money could have been passed on to family, friends, or even to charity, rather than to the tax man.

Inheritance Tax (IHT) IHT is a tax which may have to be paid on your estate when you die*. Making a Valid Will The first and most important step in estate and IHT planning is to make a valid Will. This can help make sure your estate is shared out to your friends and family as you'd wish.   Whole of Life Protection Plan A Whole of Life Protection Plan, written in trust, could be used to help pay any IHT liability. When written in Trust it could pay out a lump sum to your beneficiaries when you die and be available immediately to pay the IHT bill.   The FCA does not regulate trusts, will writing and some forms of estate planning and inheritance tax planning.   For Will writing, estate planning and inheritance tax planning we act as introducers only.   For Tax Planning, Virtue Financial acts as introducers only.       * There are some other occasions where IHT may be payable such as when chargeable lifetime transfers are made, please contact John Blackwood for further information.