Estate Planning

Not only does the Government tax you, throughout your working life, it also taxes people on death! Inheritance tax is not necessarily only paid by the richest, and more people could potentially be subject to Inheritance Tax on their death. You maybe wealthier than you think. The value of your home may have increased dramatically over the years and when you add to this the contents of your home, your car, savings, life assurance and any potential inheritances your estate could be worth more than the current inheritance tax threshold.

McPhail Financial Services can advise you as to ways you could potentially minimise your tax burden, which may be able to be done via:

  • Ensuring appropriate use of the reliefs that are available but not commonly used

  • Making gifts during your lifetime

  • Making use of trusts

  • Taking out appropriate life insurance plans

We offer a common sense approach, based on the understanding that estate planning is not solely about tax, helping to ensure that the solutions we recommend give you the flexibility to meet your own financial needs and avoid giving away too much too soon. If you do not take action you could end up leaving too much of your estate to the tax man.

IHT thresholds and the tax treatment of investments depend on your individual circumstances and may be subject to change in the future

The Financial Conduct Authority does not regulate Estate Planning, Inheritance Tax Planning, Wills and Trusts