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  • FIRST POST
    • seb2020
    • By seb2020 19th May 19, 4:06 PM
    • 14Posts
    • 1Thanks
    seb2020
    Estate Planning and IHT
    • #1
    • 19th May 19, 4:06 PM
    Estate Planning and IHT 19th May 19 at 4:06 PM
    I would like to understand about estate planning and ways to minimise any taxes that my family may have to pay following my passing and I am not sure where to begin.

    Once I have a better understanding of estate planning and IHT I may then decide to pay to see a solicitor or regulated financial advisor but only if this is necessary.

    Other than searching the internet are there any worthwhile books you could recommend that may give a clear overview of estate planning and IHT?

    I know the answer to this question is pretty obvious to many however in a nut shell, what is the required process for estate planning and minimising IHT?

    I have saved for retirement and own my home therefore is it a case for example of reducing assets including savings right down to X amount by the age of say 85?

    I would like to think that I have sufficient money into old age and will not have to spend it all by my mid to late 80s (if I reach that age) to minimise IHT etc.
Page 1
    • triplea35
    • By triplea35 19th May 19, 4:22 PM
    • 258 Posts
    • 96 Thanks
    triplea35
    • #2
    • 19th May 19, 4:22 PM
    • #2
    • 19th May 19, 4:22 PM
    I think the first place to start, if you haven't already, is the article on this site: https://www.moneysavingexpert.com/family/inheritance-tax-planning-iht/ HTH
    • getmore4less
    • By getmore4less 19th May 19, 4:25 PM
    • 36,229 Posts
    • 22,312 Thanks
    getmore4less
    • #3
    • 19th May 19, 4:25 PM
    • #3
    • 19th May 19, 4:25 PM
    First two things to understand are "nil rate band" and "residential nil rate band"
    • Yorkshireman99
    • By Yorkshireman99 19th May 19, 8:28 PM
    • 5,384 Posts
    • 4,545 Thanks
    Yorkshireman99
    • #4
    • 19th May 19, 8:28 PM
    • #4
    • 19th May 19, 8:28 PM
    First two things to understand are "nil rate band" and "residential nil rate band"
    Originally posted by getmore4less
    Don’t pick an IFA or solicitor ar random. Personal recommendations are best. You ]probably need a solicitor who is a STEP member. Not cheap but worth every penny.
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