Generational Inheritance Tax

A quick guide to Generational Inheritance Tax. Here's a tax fact that may make you more than a little angry. Your children, even your grandchildren, may have to pay tax on money that you've already paid tax on.

Estate and Inheritance Tax Planning

With a penal tax charge of 40% you would think that more people would take inheritance tax seriously, any tax paid will be deducted from the value of your estate and snatched away from your children.

Lasting Power of Attorney

Criticism and abuse of Enduring Powers of Attorney led to the introduction of the Lasting Power of Attorney, there is one LPA for Finance and Property and a different LPA for Health & Welfare.

Business Succession Planning

Business succession planning is a series of logistical and financial decisions about who will take over your business upon retirement, death, or disability.

Residence Nil Rate Band

The drafting of this legislation provided the government with the maximum publicity for tax savings that may not be available for a great number of people, particularly those with large estates, and anyone with a will dated before the Finance Act 2016.

Cross-Option Agreement

Hopefully, you will have taken some time to consider what might happen after you're gone and completed a company will to deal with your business assets. But what happens if you are involved in a limited company with other share holders?

Financial Planning for Long-Term Care

If you are like most married couples, you probably know who you are going to leave your home to when you die. Worryingly, if you and your partner own the property jointly, then your plans may not be realised.

Why Make a Will

If you have assets or children then making a Will is a must, not only is making a Will an important towards achieving peace of mind, but it can also be a first step towards Inheritance Tax Planning.

Making a Will: Asset Protection for your Beneficiairies

Making a will: Asset protection for your beneficiaries Writing a will gives you control over what happens to your assets when you die.

Making a Will: Divorce and Beneficiaries

Here's the sad thing. Even if you set up a will and you have very clear ideas regarding your beneficiaries, what you've planned, may not actually happen.

Making a Will: Remarriage After Death

You probably have clear ideas about what will happen to your Estate when you die. First you want your money to pass to your partner. Then eventually you want your money to go to your children.

Making a Will: Creditors and Bankruptcy

When your beneficiaries inherit from a standard or mirror will, it leaves that inheritance open to attack. Your hard-earned money could be wasted. The bank could decide that enough is enough and calls in the loan.

Picture of Ray Best

Ray Best

Like his academic development, writing came late to Ray. He has written several published works, “Inheritance Tax Planning – My Way” and “Shareholder Protection & Partnership Protection” and has had four feature articles published in Tax Adviser magazine, but the publication he is most noted for is the joint collaboration with Tony Granger “Inheritance Tax Simplified”.

Read More