Q. What is inheritance tax?
A. Inheritance tax is the tax paid on your estate. If you have given away assets such as property or money during your lifetime, these may also be liable for inheritance tax.

Inheritance tax is only applied if the taxable value of your estate when you die is above £312,000. It is only payable on the excess above this amount.


Q. How can I be sure my family gets my money when I die and not the taxman?
A. There are a number of exemptions which allow you to pass on amounts (during your lifetime or in your will) without any inheritance tax being due, for example:
• If your estate passes to your husband, wife or civil partner and you are both domiciled in the UK there is no inheritance tax to pay even if it's above £312,000.
• Most gifts made more than seven years before your death are exempt

There are many more exemptions and our experts at Judge & Priestley will be able to advise you and ensure that your family are provided for in the best way and in accordance with the law.

If you would like to speak to a solicitor regarding inheritance tax, please send us a message using our enquiry form >>>