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
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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
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Five things you need to know about Inheritance Tax Leaving a good inheritance can be life-changing for those you love. Discover how to leave more of your money to your family. https://buff.ly/3GMbDVX
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How can you leave a meaningful legacy to your family and cut your Inheritance Tax bill after you’ve gone? By wising up to estate planning. https://lnkd.in/e-AMnbKD #dvfs #financialplanning #estateplanning
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Whether through diligent work, wise investments or an inheritance, achieving fInancial prosperity brings with it the responsibility of ensuring your wealth benefIts future generations rather than being signifIcantly diminished by taxes, particularly Inheritance Tax. Strategic estate planning, guided by our professional expert advice, can serve as a powerful tool in minimising or even completely avoiding the tax burden on your heirs. 👉FOR SOME KEY STRATEGIES TO CONSIDER FOR EFFECTIVE WEALTH PRESERVATION, READ OUR LATEST BLOG: https://lnkd.in/emxw8Ezj #trusts #wills #estateplanning #durhamestateplanning
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In terms of their money, people want these three things: leaving a larger Inheritance, control over their money and tax savings. Recently, on a call with America's own IRA expert, Ed Slott, said something worth sharing: People want the ability to leave a larger inheritance for their loved ones. And, generally speaking, we all want more control over money, and of course, tax savings. I can help you obtain all these wants.
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importance of estate planning
The US imposes a 40% inheritance tax, which can substantially diminish your family's wealth. If you have a child living in the US & wish to reduce the tax burden, Private Trust is your go to solution.Private Trust will help you to mitigate the inheritance tax and will also ensure seamless transmission of your assets to your children and grandchildren.
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In 2026, the landscape of federal estate tax exemptions is set to undergo significant changes. What impact will this have on your wealth and your heirs’ inheritance? Learn what these changes will entail, how they may affect your estate planning and strategies to keep more of your savings for your loved ones. https://lnkd.in/g3x8NDPY
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Did you know that in addition to the nil-rate band of £325,000, there is an additional residence nil-rate band for qualifying family homes? This can potentially increase the inheritance tax threshold, offering more tax relief. Call 0117 3636 212 or email office@haroldstephens.co.uk to book your complimentary financial review. #ResidenceNilRateBand
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Private Client Executive EKM Legal Services | Wills | Estate Administration | Powers of Attorney | Tax Planning | Court of Protection
It may be a cheap alternative, but a DIY Will is fraught with issues. ❓Are you aware of the Inheritance Tax implications if you own a business or have a large estate to distribute? ❓Do you know how to use a trust to reduce tax burden? ❓Do you know the consequences of including or excluding certain people from your Will? ❓Is your executor competent to deal with your estate? ❓Are your instructions clear or are you leaving your family with financial, legal or even emotional problems? Don’t leave things to chance, call us on 07786 543813 info@ekmlegalservices.co.uk
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How can you leave a meaningful legacy to your family and cut your Inheritance Tax bill after you’ve gone? By wising up to estate planning. Click here to find out more: https://bit.ly/3OOux34
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2moI just might have to have a chat with you Mark about this subject. I will be in touch 🙏