Wills, Trusts, and Inheritance Tax: How to Keep More for Your Family

Wills, Trusts, and Inheritance Tax: How to Keep More for Your Family

Don’t Risk Losing Everything!

In the UK, inheritance tax can take a significant portion of your estate, leaving less for your loved ones. However, with careful planning through wills and trusts, you can mitigate this burden.

For more expert advice on managing your finances, subscribe to Charles Kelly Money Tips Podcast on YouTube or email charles@charleskelly.net to meet a specialist adviser.

Watch full YouTube interview: https://youtu.be/-SfqPiXPTbg

Creating a properly drafted will ensures your assets are distributed according to your wishes, potentially avoiding intestacy rules that might increase your tax liability. Including trusts in your estate planning is a powerful tool to protect your wealth. Trusts can help reduce inheritance tax by transferring assets out of your estate, placing them in the hands of trusted individuals for your beneficiaries.

Key strategies include the Nil-Rate Band Discretionary Trust, which allows you to pass on up to £325,000 tax-free, and gifting assets during your lifetime, which can also reduce the value of your estate if you survive for seven years after the gift.

It's essential to review and update your will regularly to reflect changes in your circumstances and tax laws. Proper estate planning with wills and trusts not only safeguards your legacy but also ensures your loved ones benefit from the maximum inheritance with minimal tax impact.

For more expert advice on managing your finances, subscribe to Charles Kelly Money Tips Podcast on YouTube or email charles@charleskelly.net to meet a specialist adviser.

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UK National Debt 800% of GDP Says Chancellor Rishi Sunak Announcing Furt...

UK National Debt 800% of GDP Says Chancellor Rishi Sunak Announcing A Further £500 Million In New Grants

In his speech to members at the Conservative Party Conference Rishi Sunak said:

“Recovery comes with a cost”

Highlights today:

·        Tax rises on the way rather than tax cuts.

·        £500 million in new grants announced to help employment as furlough scheme ends

·        Evergrande shares suspended pending an announcement.

·        Fuel and energy prices soaring adding to inflation fears.

·        Why inflation makes the rich richer and the poor poorer.

The first step to building wealth and turning your finances around is financial education.

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We know exactly what the millionaire and billionaire habits and traits are, as success leaves tracks. All you need to do is follow their tracks to become wealthy and financially free!

If you would like to learn more about investing and managing your money, become a professional property investor, or would like to be financially free without working any harder, watch this free on demand training.

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