Planning for inheritance tax and care fees

Inheritance tax planning is about understanding what could be taxable in your estate and putting sensible arrangements in place to reflect your wishes. It often involves reviewing your will, how assets are owned, and whether gifting or trust planning is appropriate.

In many cases, there are legitimate ways to reduce inheritance tax exposure. The right approach depends on your assets, family circumstances and timescales, and should be part of a wider plan rather than a single action.

Gifting can form part of inheritance tax planning, but the impact depends on timing, the type of gift, and your wider circumstances. It is important to keep good records and make sure gifting does not compromise your own future needs.

Sometimes, but not always. Property ownership can affect what happens on death and how well a will works in practice. We can advise whether a change is appropriate based on your situation and objectives.

A trust can be useful in some circumstances, particularly where there are young beneficiaries, blended families, or a need to protect vulnerable beneficiaries. Whether it is suitable depends on the wider plan.

There is no one size fits all answer. The rules are complex and planning should be done carefully and early. We can explain the principles, help you avoid common pitfalls, and advise on appropriate steps as part of later life planning.