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Inheritance tax is a tax on the value of your overall estate upon your death.
You may find that inheritance tax would apply to you even if you do not consider yourself to be wealthy, as the individual lower limit at which this tax must be paid in 2008/2009 is £312,000*. As this includes the value of your main home and any other property as well as other assets the number of people qualifying for inheritance tax is quickly increasing.
Seeking independent financial advice can help you to plan effectively to minimise the effect of inheritance tax on your estate, so that you leave as much as possible to your heirs. We can also help you draft a will with inheritance tax in mind, set up a specialist trust or advise on other options available to help reduce the amount of tax that would have to be paid on your estate.
* Correct as at 09/07/2008
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