Assessment of IHT Liability

Markland Hill Wealth can help you understand the potential IHT liability by reviewing your estate, including property, investments, and other assets. We will explain current IHT rules and thresholds, ensuring you are aware of any exemptions and reliefs available.

Creation of Estate Planning Strategies

This may include:

• Advising on making gifts during your lifetime to reduce the value of your estate, including using annual allowances and potentially exempt transfers.
• Setting up trusts to manage and protect assets, ensuring they are passed on to beneficiaries in a tax-efficient manner.
• Recommending life insurance policies written in trust to cover potential IHT liabilities.
• Researching what alternative asset strategies might be appropriate to mitigate tax.

Utilising Allowances and Reliefs

We can advise on the utilisation of your Inheritance Tax nil rate band and any transferable nil rate band between spouses. There may also be additional allowances available for passing on the family home to descendants.

One interesting strategy we often advise on is the relief available for business assets and agricultural property. There are specific planning tools designed to take advantage of these allowances.

Investment Strategies

We often recommend investments that can potentially be outside the estate for IHT purposes, and also Utilise pension schemes as a means to manage IHT, as pensions can often be passed on to beneficiaries free of IHT.

We would advise you over several meetings after getting to know your full circumstances whether any of these strategies were appropriate.