Posted on: 27th November 2014 in Financial Planning
Your estate is comprised of everything you own – your property, bank accounts, investments, life insurance, furniture, personal possessions and so on. Everyone has an estate and something in common; you can’t take it with you when you die. Estate planning is deciding in advance what should happen to the things you own after you die. Good estate planning does this with the least amount paid in taxes, legal fees and court costs. For British expats, for example, Inheritance Tax (IHT) is currently charged at 40% and is payable on your estate once your net assets exceed the nil rate band. This is announced each budget and is currently £325,000 (2014). Homeownership and rising property values have meant that more and more people are subject to IHT every year.We have 18 offices across the globe and we manage over $2billion for our 20,000+ clients
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