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INHERITANCE TAX

In today's financial climate, many people have property, financial assets and investments above £275,000 and have worked hard to achieve it.

However, if you opt to do nothing and leave your assets to the forces of current law, your children will have to pay 40% to the taxman on anything over £275,000.

If your estate is worth £450,000 your children will give away £70,000 to the taxman.   Having spent much of your working life paying tax on your income, don't pay it on your death but pass that sum onto your loved ones.

Inheritance Tax is in the financial world known as the ‘voluntary tax' because you only have to pay it if you do nothing about it.   Wealthy people remain just that because they take measures to avoid it.

At Cromwell & Co. we can avoid the Taxman by setting up a Discretionary Trust in your Will therefore maximising the benefit to your loved ones and not the Treasury.

 

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