Nil rate band wills

Stamp Jackson & Procter’s Nil Rate Band Wills (subject to the recent government announcements) confer flexibility on your executors to apply your property for the benefit of your spouse and family in whatever way seems best in the light of the conditions prevailing at the time of your death. In some instances your Wills can save you up to £120,000 inheritance tax (IHT) liability at current rates. To illustrate how the Stamp Jackson & Procter Nil Rate Band Wills can save up to £120,000 in IHT please click here to see an example based on a married couple that wish to leave their estates to each other and then to their children with a joint estate worth £1million.

Your estate is potentially liable to IHT to the extent that the value of your estate exceeds the unused nil rate band. The present nil rate band is £300,000, from which would be deducted the value of any gifts made within the seven years before your death to the extent that these ‘count’ for inheritance tax purposes.

Planning ahead can significantly reduce your estates tax liabilities and protect your assets for the benefit of you family. Our private client team can help you to arrange your financial affairs to secure your families future. Andrew Procter, Senior Partner.

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