Topic: wealth planning

Inheritance Tax Residence Nil-Rate Band

Owning a residence which you leave to direct descendants

The introduction of the ‘residence nil-rate band’ (RNRB) has made it easier for some individuals to pass on the family home. The rise in property prices throughout the UK means that even those with modest assets may exceed the £325,000 ‘nil-rate band’ (NRB) for Inheritance Tax.

 

Passing wealth to the next generation

Making a real difference to the financial position of the recipients

With careful planning it is possible to significantly reduce the need for your estate to pay Inheritance Tax. We spend a lifetime generating wealth and assets but not many of us ensure that it will be passed to the next generation – our children, grandchildren, nieces, nephews, and so on. Estate preservation planning is the transferring of wealth from one family generation to the next.
It’s becoming increasingly important for more people to consider succession planning and intergenerational wealth transfer as part of their estate preservation planning. Increasingly as the baby boomer generation reaches retirement age, we’re on the brink of a vast shift in assets, unlike any that we have seen before.