Inheritance tax
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.
Contact Us
North, South, East or West. Wherever you are, we’ve got you covered. Contact us today for an informal chat, without obligation. We look forward to hearing from you.
South Devon
01803 213251
Exeter
01392 274006
North Devon
01271 342268
Wills, probate & private client news
Mission Unbreakable : Mission Complete !
Wollens is delighted to secure a number of rankings within the prestigious Legal 500 directory 2024 edition. The Team Wollens were part of the 700 brave souls who competed in the North Devon Hospice Mission Unbreakable challenge, ditching their cozy Sunday at home, the teams took to the fields, mud and obstacles.
Wollens celebrate firm wide inclusion within Legal 500 rankings 2024!
Wollens is delighted to secure a number of rankings within the prestigious Legal 500 directory 2024 edition. The Legal 500 is the leading guide to law firms and solicitors in the UK.
Best practice when acting as an executor
You should ensure that you understand the role and are willing to take on the responsibility before starting to act.
Estate Planning for Blended Families: Navigating Wills and Inheritance
Estate planning for blended families can be complex. Ensure a smooth transfer of assets and protect your loved ones with our latest article: “Estate Planning for Blended Families: Navigating Wills and Inheritance.” Read now to plan your legacy wisely.
Avoiding common problems with beneficiaries
No matter how large or small a beneficiary’s entitlement, problems can sometimes occur. Being aware of common problems can help you better prepare for them.
Do medical staff have to respect a power of attorney?
A health and welfare Lasting Power of Attorney (LPA) allows attorneys to make decisions about medical care, however there may still be some medical decisions which remain outside of their remit.
Providing for a child with disabilities in your will
To help ensure your child is provided for sufficiently, it is best to seek professional advice tailored to your circumstances and the needs of your child
Jonathan Dickson strengthens Wollens Private Client Team
Wollens are delighted to announce a significant addition to our highly regarded Private Client team with the recent appointment of Jonathan Dickson who joins the team as a partner. With his extensive qualifications and experience, Jonathan brings a wealth of knowledge in the areas of taxation, estate planning, and wealth preservation, further enhancing Wollens’ ability to provide comprehensive legal services to wealthy individuals and their families.
Wollens launches new Sports Law Division
Wollens are proud to launch this exciting new chapter in the firm’s development. Our new department is being driven by our sports lawyer Marco Floreale who has expertise in working with all types of sports people across the continuum of sports law.
Wollens is officially recognised as #72 in the UK 2023 Best Workplaces™
Great Place to Work ® have released to the top 100 Best Workplaces ™ highlighting small, medium and large organisations.
This year Wollens has been ranked 72nd in the country and the highest ranked law firm in the 2023 Best Workplace ™ medium organisations category. Great Place to Work ® are the global authority on workplace culture.
