You might be concerned that your loved ones will need to pay large inheritance taxes after your death. If so, you may have already spoken with an inheritance tax lawyer and discussed your options. Here are some reasons you might need legal advice about the best inheritance tax in UK.
1. To make your will legally binding and to ensure that all your wishes are clearly stated in writing, you'll need assistance.
2. You can ensure that everyone knows who your heirs will be when you pass away by naming them in your will. This will reduce the chances of family members falling out or having disputes.
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3. You might seek legal advice if you wish your survivors to pay fewer inheritance taxes. The information you require will be provided by your inheritance solicitor.
4. It is possible to be tempted by the lure of investing your estate in investments with the hope that you will get more than inheritance tax. You might not be making the most of your estate if you don't seek legal advice. This could leave your loved ones vulnerable to inheritance tax.
5. You might want to buy gifts and other items for loved ones so that you both get your inheritance before your death. It is important to ensure that all laws are followed and that your family is aware of potential problems.
6. Put your money in trust funds for your children and grandchildren so they can continue to benefit from your wealth long after you die. You can have your solicitor help you decide if this is the best or most efficient use of your estate.
7. Many people choose to downsize their cars and homes and have smaller cars. This will allow them to maximize their wealth and distribute it as they wish. This may appeal to you, so why not ask your solicitor?