In the event of your death, your beneficiaries could pay inheritance tax at 40% on the value of your estate above £325,000.
If your estate including the value of your home is worth £500,000, that could mean a tax bill of £70,000.
For an estate of £1m, the tax figure could become £270,000!
Please click here to see our Intestacy Rules Flowchart or in other words, what happens to your estate if you die without a valid Will.
|For advice on the various ways of mitigating a potential inheritance tax liability, please contact our tax partner Darren Specterman on 020 8458 7427 or email email@example.com.|