Barclays Wealth

Estate preservation

Benjamin Franklin once said that "nothing is certain but death and taxes", and thanks to inheritance tax, they're not only certain - they're intrinsically linked.

Inheritance tax is currently charged at 40 per cent, and is payable on your estate once your net assets exceed £325,000. For any married couples and civil partners, any unused percentage of the available allowance from the estate of the first to pass away may be claimed when the second spouse dies. Once the domain of the super-rich, wide scale home ownership and rising property values have meant that more and more people being subjected to inheritance tax every year.

Planning to reduce IHT is not just about saving money. It's about helping you to preserve your wealth in the most efficient way.

To help you achieve the solution you want, there are a number of different way of addressing IHT:

• Use a will to anticipate and minimise any potential IHT charge
• Transfer assets tax-efficiently through lifetime gifts
• Place money or assets in trust
• Protect and insure your wealth

Building up wealth is never easy. It can, however, be relatively easy to manage the potential IHT charge on your wealth. At Barclays Wealth we have the depth of experience and resources to help you understand exactly how IHT could affect you and to discuss solutions that can help you protect your wealth for future generations. These include

Wills

Everyone should have a will. A will ensures that your wealth is distributed according to your wishes and provides clarity and certainty over the disposal of your estate. It can also help manage the IHT arising on your estate.

Gifts

When you are looking to reduce your taxable estate, the first thing you should consider is whether you can afford to distribute any of your assets before you die in the form of gifts.

Find out more about Estate preservation

To learn more about how Barclays Wealth could help you, please contact us and we'll be in touch as soon as possible.

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