What is inheritance tax?

“In this world nothing can be said to be certain, except death and taxes” -                                                                                      Benjamin Franklin

Inheritance tax is a tax on your wealth that is paid on your death, however it can also apply to some gifts that are made during your lifetime.

If your estate has an inheritance tax liability, your beneficiaries will have to pay the inheritance tax bill, leaving less of your money in their hands. 

Many people are under the assumption that inheritance tax only affects wealthy families, however, rising property prices have meant that more and more people will be having to pay inheritance tax. 

A professional financial adviser can look at ways to mitigate your inheritance tax bill and reduce your tax liabilities making sure more of your money goes to those that you choose.

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