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Inheritance Tax & Succession Planning

Considered succession planning advice to ensure your wishes are respected and achieved.

Understanding your succession planning needs

We recognise that the protection of your family wealth for the benefit of your loved ones, is of vital importance to you and your family.

One potential obstacle in achieving this is your exposure to inheritance tax (IHT).

Without effective succession planning, it is possible for you to leave far less of your estate to your family than you had originally intended.  

To ensure that your family benefit as you intend them to once you are gone, it is important to get professional IHT and succession planning advice.

Our people, your partners

Blick Rothenberg has in-depth experience helping private clients to manage their exposure to UK IHT, preserving wealth for the benefit of the next generation. 

Working closely with you and your family, we will listen to your objectives so we can gain an understanding of what you want to achieve for your family.

As a starting point, we find it is often helpful to list out your family’s assets and liabilities, identifying those assets which qualify for specific reliefs and where efficient planning can be undertaken to reduce IHT exposure.

Based on these discussions, we will advise you on the most appropriate strategies to achieve these aims, for the benefit of future generations.

We also advise on the creation of trusts, whether for the family or for charitable purposes. 

Whilst trusts can be tax efficient if structured correctly, they go beyond that and can achieve the family’s objectives, both in terms of succession planning and asset protection.

In our experience, appropriate IHT planning involves a range of planning options. There is no ‘one size fits all’ solution or product. You need a bespoke solution for your family’s unique circumstances, and that is what we will provide.   

How we can help

Drafting an effective will can have a significant impact on IHT liability, as can certain exemptions and reliefs.

We will advise you on the following:

  • Maximising IHT exemptions and reliefs such as Business Property Relief (BPR) and Agricultural Property Relief (APR)
  • Lifetime giving and whether this is appropriate for your circumstances
  • Establishing trust and family investment company structures as vehicles to pass value to subsequent generations, whilst retaining a degree of control
  • Structuring of assets in overseas jurisdictions, to ensure assets pass effectively and tax efficiently
  • Whether life insurance should be considered to cover potential exposure to IHT
  • Tax aspects in relation to the drafting of your wills
  • Planning with the family home and other property assets

For non-domiciled individuals, trusts (both UK and offshore) can be particularly powerful in advance of becoming ‘deemed’ domiciled (when you have been resident in the UK for more than 15 out of the last 20 tax years).

Click here for more information about our services for the non-domiciled.

Appropriate succession planning involves a range of planning options. There is no ‘one size fits all’ solution or product.
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