- 23rd May 2019
- Posted by: steve mills
- Category: Blog, Funerals, Tax, Wills and probate
A modern Will is needed to ensure that the family home is protected from potential ‘predators and creditors’.
Just putting your children in an old fashioned mirror will is not enough any more to guarantee they will get your assets in full or even part.
Our ‘Modern Will’ gives you complete protection and control over your home so your children are guaranteed to enjoy the benefit of all your hard earned efforts.
There are many situations where care fees and Care Home costs can be taken from your estate by others to pay for later life care. We look out for your children and protect your assets. The latest figures on social care show that it is an increasing probability that this could become a major issue for many in later life.
We steer away from Live Wills where you sign over your property to your children now. For a start, unless you can prove you paid them full market rent, then the taxman will rule it is not a true gift and charge them the full 40% Inheritance Tax on the value anyway. Often tax charges become immediately payable as soon as you set one up.
This means a surviving partner who meets a new partner, will not have your assets inherited by others. We keep your assets in the bloodline. We call this a Bloodline Will. We stop what is called sideways disinheritance of your assets.
As a key part of this Will we can then guarantee your children can claim additional Inheritance Tax thresholds by claiming what is called the RNRB allowance.
We guarantee to save you 40% Inheritance Tax unnecessarily.
Call us now for a free assessment on 0203 858 0307.