Melanie Wain considers clients’ fundamental needs in IHT management
In a time where covid-19 and vaccines have been in for forefront of everyone’s minds to ensure that we keep ourselves and families protected, many have overlooked whether they have effective protection in place for their families in respect of their estates and their increased wealth.
What has changed?
We are aware that cost of living has increased, but we also need to bear in mind that house prices are at a high, with average prices even outside of London exceeding the base inheritance tax (IHT) allowance of £325,000. What this means is that in reality is our estates are being pushed over the tax-free allowances, leading to more of us leaving an IHT bill to be settled when we die.
Private Client Executive
Nicholson Jones Sutton Solicitors