Harold Stephens’ Post

A new report by PIMFA suggests that 58% of people in the UK have never discussed inheritance with their family members. Not doing so could mean that your beneficiaries may be unprepared for receiving an inheritance, or they perhaps expect to inherit a substantially different amount than you intend. It may also mean that far more of your estate may be liable for Inheritance Tax (IHT). So, what are the benefits of speaking to your beneficiaries? https://ow.ly/emuu50QQCtF

BE AWARE! ⚠️ Many are still unaware of the 40% Inheritance Tax on death. As property prices have crept up over the last two decades or so, and the Inheritance Tax Nil Rate Band has remained at £325,000, more and more individuals and families are subject to UK IHT at 40%. There are many strategies, structures and solutions we can explore so do get in touch. That's the problem. There's lots we can do to help save you tax. At times, eliminate! But we won't know until you become AWARE and reach out! DM or email: omar@aswatax.co.uk ASWATAX #inheritancetaxplanning #taxadvisory

A new report by PIMFA suggests that 58% of people in the UK have never discussed inheritance with their family members. Not doing so could mean that your beneficiaries may be unprepared for receiving an inheritance, or they perhaps expect to inherit a substantially different amount than you intend. It may also mean that far more of your estate may be liable for Inheritance Tax (IHT). So, what are the benefits of speaking to your beneficiaries? https://ow.ly/v8jG50QQCtC

A new report by PIMFA suggests that 58% of people in the UK have never discussed inheritance with their family members. Not doing so could mean that your beneficiaries may be unprepared for receiving an inheritance, or they perhaps expect to inherit a substantially different amount than you intend. It may also mean that far more of your estate may be liable for Inheritance Tax (IHT). So, what are the benefits of speaking to your beneficiaries? https://ow.ly/z8f150QQCtA

Inheritance Tax can be complex, but understanding it is essential for effective estate planning. The current threshold is £325,000, with a 40% tax on amounts above this. Married couples and civil  partners can transfer their estates tax-free, and the family home allowance may reduce your tax burden  further. The budget on 30 October 2024 may change certain rates so pre and post planning is essential. For expert guidance on navigating these intricacies, contact Astonia Associates today! For more information, visit us at https://lnkd.in/g6_t3T6a or call us at +44 0845 519 6610. #InheritanceTax #EstatePlanning #FinancialAdvice #TaxPlanning #AstoniaAssociates  #WealthManagement #FamilyFinance #TaxStrategy #FinancialLiteracy #ExpertGuidance

A new report by PIMFA suggests that 58% of people in the UK have never discussed inheritance with their family members. Not doing so could mean that your beneficiaries may be unprepared for receiving an inheritance, or they perhaps expect to inherit a substantially different amount than you intend. It may also mean that far more of your estate may be liable for Inheritance Tax (IHT). So, what are the benefits of speaking to your beneficiaries? https://ow.ly/oL3q50QQCtE

Inheritance tax is becoming a hot topic again. Many families are cautious about the weight of taxes, making it harder for them to pass down their wealth. We need to have crucial conversations about how families can receive their inheritance in the best way possible. Is Inheritance Tax something you've thought about? #InheritanceTax #Finance #UKBudget #FamilyWealth

You are probably familiar with the infamous federal estate tax but Nebraska residents (and non residents who own property located in Nebraska) also should be aware of another death tax: Nebraska Inheritance Tax. Contact me to help you plan for your final affairs, especially if there is an intention for beneficiaries other than a spouse or closely related family members to receive assets and check out my article below to learn more. #nebraskainheritancetax #inheritancetax #estateplanning #estateplan #attorneyomaha

Inheritance tax is a tax on the estate of someone who has passed away. In the UK, this is applied to the value of the estate above the nil-rate band which is currently £325,000. The tax includes all assets, including investments, valuables, and even some gifts made during the donor's lifetime. So, why do we have an inheritance tax? The aim is to ensure that a portion of the wealth accumulated by an individual is returned to the public coffers upon their death. Read more about this on our blog: https://heyor.ca/53NO0Y #InheritancePlanning #InheritanceTax #TaxAdvice

Testamentary Trust Wills have become our most popular choice of Will this month, so we thought it might be a good idea to remind people of the benefits! It's an investment which could potentially save your loved ones tens of thousands of dollars. Setting up in your Will a Testamentary Trust that commences after your death, may provide significant tax savings on your beneficiaries’ inheritance through savings on: 💰income tax on income earned on their inheritance; and 💰Capital Gains Tax and Stamp Duty on assets they inherit. MORE: https://lnkd.in/gjdgZyAJ Mark Murnane