Wealthy family – Inheritance tax planning
Background: We act for a wealthy family with a family investment company, property and personal investments. The parents face a significant inheritance tax liability and the family wanted to minimise their exposure as far as possible.
How we helped: We helped the family plan for the future, ensuring that enough income was maintained for their daily needs whilst implementing planning to ensure inheritance tax would be minimised in the future. At the same time we worked closely with the family solicitor to ensure tax efficient Wills were drafted. Potential inheritance tax savings of up to £1 million may be achieved as a result of this planning.