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Inheritance is a big financially complicated word that sends a shudder down most people's spine, because in the main it forces us to think of our own immortality.
There are many areas of inheritance and this page is very general as it does cover a wide subject area. You may be able to spot some useful links on the right hand side or you may want to narrow your search down by clicking on one of the above links that will give you more specific information about a particular area.
The main areas of interest are making a will and dealing with all the possible tax issues related with inheritance tax planning.
Wills
We all need to think about making a will no matter how indestructible we believe we are. It's not just about who gets what when your in the ground or scattered across the rose garden but in fact whether you want to be buried or on the rose garden. That's a good example of all the many different aspects there are to making a will. At a time when most people a grieving and really don't want to have to think about everything else it helps them to know they are actually making the right decisions even after you are gone.
For parents of small children you will need to consider who has custody of your children as this can cause major problems if both parents are lost at the same time, don't assume you know what will happen because if it's not in a will the state will want a say in what happens to them and the last thing your children need is uncertainty after such a tragic event.
Inheritance tax
Making sure your loved ones get your assets and not anyone else is what tax planning is all about. You don't want your loved ones to have to deal with a tax bill for inheriting the house are any of large items you have. At worst you want to minimise the bill with various financial advice and vehicles such as trusts
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