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Inheritance tax is the tax paid on assets that are left when someone dies. It could have an impact on your estate if the total value of your assets, less the total value of all of your debt, is greater than the inheritance tax threshold. The number this sum produces is known as your net estate value. The tax threshold at which your estate may bear inheritance tax is currently £325,000. It is payable at a flat rate of 40% on the value of your net estate on your death on sums that are over this threshold. Our team of inheritance tax planning solicitors can help you plan ahead to ensure that you explore all the potential qualifying tax reliefs and tax exemptions that may be available to you and your family, and minimise the impact of this tax on your estate.
Every person’s situation is different, which is why we provide a comprehensive tax service which is tailored to you, including:
- Capital gains tax planning
- Wills
- Lifetime gifts
- Inheritance tax planning
- Planning for care home fees
- Tax implications of marriage and divorce
- Tax residence
- Trusts
In 2017 we received the Law Society’s prestigious Excellence in Private Client Practice award for our work in this area of law.
We offer fixed-fee packages and other pricing options to suit your needs, and are happy to have an initial chat without obligation – contact us today.
Testimonials
Sending you some much deserved appreciation for your service in dealing with the estate of Mr Pratt on our behalf.
Knowing that Lydia was behind through this whole experience gave me the courage and confidence needed to get through the process. Her knowledge and understanding of family law got me the best possible outcome.
My will was all done remotely by phone, notes, letters due to the distance involved – about 145 miles, general health and Covid restrictions.
More recently I had a serious illness with loss of driving license and other lasting problems but I have been very lucky with the outcome. What seemed difficult was much easier with the help I was given. Excellent service. Solicitor Alex Jenkins and secretary Enya Garrett have been friendly, considerate, shown knowledge in an understanding way throughout preparing my will – and I have never met them.
Wollens is highly recommended.
Mine was a very lengthy and complicated case involving deputy ship for my Father’s financial affairs, and Probate following my Father’s death. Costs were high, as they always are with solicitors, but the service by Alex Jenkins and Edward Lee of Wollens, who dealt with my Father’s affairs, was very personal and much needed at a very traumatic time.
Craig and Shirley at Wollen’s have supported us throughout a particularly tricky matter, where usual routes of communication were not possible. The advice that we were given was always very clear and concise and we found Wollen’s very responsive to any queries or concerns. They were conscious of the weighty emotional element involved but very mindful of removing the emotion from decision making processes, which made it easier to see the bigger picture. I would certainly recommend to friends or colleagues requiring legal support.
I had a shareholder dispute with a partner. Simon has provided very valuable advice, while having a broad professional outlook on my case. He understood the core of the case swiftly and sharply. Besides being an in-depth professional, Simon Bean has enriched the value of advice by his empathic approach and pointing out key to-do’s for future endeavours. His letter of advice tackled the matter with depth, providing an exhaustive approach. An another point for which I am grateful, was his advice asto a person that is still on the steep curve of getting familiarised with many aspects of advising. I would definitely recommend him for his legal knowledge, for his communication throughout, and equally important, for his empathy and sharp overlook on situations.
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