Wills

You need a skillfully drawn up will to save IHT and gain asset protection.  Even more importantly, we can help you keep it all up to date with our Review Services.  There is little point in writing a last will which becomes out of date rather sooner than you expect as a result of government legislation.

Passing the entire estate to the surviving spouse qualifies for spouse exemption and is the reason why assets passing on death to a surviving spouse are not subject to IHT.  If the entire estate does pass to the surviving spouse it will not be necessary to utilise the available nil rate band allowance.  It therefore remains unused.

If you do not make a Will, your surviving spouse may only become entitled to a portion of your estate where your children and other relatives survive.  Children and other relatives are classed as non-exempt beneficiaries and any nil rate band allowance available on the first death may be used up entirely or partially on these assets passing.

If you die intestate and your nil rate band has been utilised on the first death, it cannot be transferred to the survivor's estate and used to reduce the estate of the survivor on his or her eventual demise.

Hence it makes sense to be prudent and draw up a will immediately to protect those that you love and care about.

We will also act for you in the case of Disputed Wills.

For advice and assistance please email: pt@talfourds.com
                                                            or info@talfourds.com

Find out about Inheritance Tax Planning