Solicitors in North Wales are needed to deal with the issues associated with inheritance tax. There are many reasons for this, not least that legal experts can save your beneficiaries lots of money and safeguard your assets so those who you want to inherit can enjoy the maximum amounts left to them.
One of the most important ways of dealing with inheritance tax is to make sure your Will is legally drawn up by a solicitor. Clauses in this document can help reduce the tax burden and solicitors in Conwy can advise you how to do this in a number of ways. For example, you could be guided to leave money to a charity of your choice. Tax relief is applied to this donation, and you can leave a specific amount of money or even a gift.
Wills solicitors in North Wales may also suggest that you distribute some of your assets while you are still alive. If you then live seven years or more after this is done, the inheritance tax burden will be reduced. There are several other ways your legal advisor can help you, including offering suggestions about equity release schemes and property allowances. It is also worth remembering that if you leave your assets to a spouse or civil partner, they will not have to pay inheritance tax at all.
Talk to us here at Bennett Smith Solicitors today and let us help you with your Will; we will be glad to give you the most up-to-date advice available.
