30 Sep 2019

Your Will and the Taxation of your Estate

MHA Monahans Will and Estate Taxation 76895572

We are often reminded that drawing up a Will should never be a one-time only event, to reflect changes in personal circumstances.

However, it’s easy to overlook the consideration that should also be given to the impact of Inheritance Tax rules and regulations, which are constantly subject to change by the government. The current provisions and any proposed changes to your Will should be reviewed in the light of announced amendments to taxation.

MHA Monahans would be pleased to work with you and your solicitor to help you understand the current rules. We offer a complimentary half hour consultation to review your existing Will and codicil(s), or your initial Will draft, to provide you with a brief outline of the tax implications of the provisions contained therein.

This will include:

  • Initial observations on the wording of your Will, to see if it makes the best use of all Inheritance Tax exemptions and reliefs available, as applicable to your circumstances.
  • Our initial views on the potential Inheritance Tax due, based on the disposition of your assets according to your wishes.
  • Identification of any planning steps which could be taken in your lifetime to minimise future Inheritance Tax liability.

The complimentary half hour consultation may answer all your questions in one easy step. However, should you require further specific, in-depth or formal written advice, for full transparency we would discuss the scope with you and agree a fee, prior to working with you.

By planning now, you save your family from having to guess your wishes. Making a timely provision within a Will is a cost-effective way for planning for the future.

MHA Monahans and your solicitor can together give you the best advice and peace of mind for the future.