Probate, Inheritance Tax & Wealth Planning

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CONTACT INFORMATION

Tel: 08444 933669
enquiries@bridgerandco.co.uk

WHAT WE CAN HELP WITH

  • Probate.

  • Planning your future money.

  • Planning your tax.

CAN BRIDGER & CO CAN HELP YOU?

If you feel that Bridger & Co are a good fit for you, then fill in our online form at the bottom of this page, or speak to one of our friendly team and get some advice from our team of experts.

PROBATE & THE ADMINISTRATION OF ESTATES UNDER THE LAW.

The passing of a family member is always a difficult period. At Bridger & Co we provide a helping hand to ensure that the administration of your loved one’s estate is as simple, and free of worry, as possible.

Bridger & Co can help with every element of the administration of estates, as follows:

  • Assisting with all the requirements following a passing, such as an explanation of the Will, or the options available if no Will has been undertaken, the registration of death and explaining the process involved during the administration.

  • Advising on all tax issues relevant to the estate, including income tax, capital gains tax and inheritance tax.

  • Obtaining date of passing valuations of the assets and liabilities held within the estate.

  • Applying for a grant of probate or letters of administration, if necessary.

  • Liaising with all financial institutions.

  • Discharging liabilities.

  • Transferring and/or selling assets.

  • Preparing and drafting Deeds of Family Arrangement and/or Deeds of Variation.

  • Paying legacies to beneficiaries.

  • Advising in respect of Wills drafted outside the UK and collecting foreign assets.

Please contact us to talk with a member of our Probate team to obtain expert guidance about the administration of estates and obtaining a grant of probate.

INHERITANCE TAX & WEALTH PLANNING

More and more people are now affected by Inheritance tax (IHT), and risk paying tax of up to 40% of the value of their wealth on death, over and above the Nil-Rate band (NRB).

IHT is commonly viewed as a problem for persons of retirement age or over. However, the current legislative framework means that there are marked advantages of reviewing your IHT position at an early stage.

IHT considerations are of course an important element of Will planning. It is also prudent to undertake lifetime measures to decrease your potential liability as occasions will arise, either to produce wholesale IHT gains or to facilitate subsequent tax planning measures. However, it is imperative to realise when these occasions may arise.

Inheritance Tax is due if:

  • Your estate, including assets held in certain trusts and gifts made within seven years of death (other than exempt gifts), is valued over the current IHT NRB of £325,000.00.

  • The tax is payable at 40% on the amount over the NRB.

  • Married couples and registered civil partners can increase the NRB on their estate when the second partner dies, by taking advantage of the concessions that allow them to transfer the first spouse’s unused NRB to the second spouse when they die.

  • There is a range of further IHT exemptions and reliefs available to reduce the IHT burden.

INHERITANCE TAX PLANNING CAN REDUCE YOUR IHT LIABILITY

In real terms, the burden of IHT remains very high unless you take effective measures to reduce the tax liability of your estate. Our Inheritance tax planning and family wealth planning services work, hand in glove with our Wills & Trust teams, and can help you use key planning tools to produce substantial tax savings in many cases using:

  • Discretionary and property trusts within complex Wills structures.

  • Lifetime gifts either to trusts or individuals.

  • Annual Exemptions.

  • Deeds of variation to improve your inheritance tax position.

Please kindly Contact Us to discuss how our specialist Probate, Inheritance Tax & Wealth Planning team can help you.


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