Inheritance Tax
Inheritance Tax (IHT) is a levy that is to be paid on any estate over the value of £325,000 for a single person or £650,000 for a couple these are known as the Nil Rate Bands.
Trusts
In a Discretionary Trust, the trustees have the discretion over whether to pay out the income to any beneficiary or to accumulate it in the trust and add it to the capital.
Power of Attorney
A Lasting Power of Attorney (LPA) is a legal document that enables a third party to make decisions on your behalf if you lose mental capacity.
Will Planning
A charge to IHT arises when someone dies or when assets transferred are to a Discretionary Trust or to a Company.
OUR SERVICES
Legal Practitioners
Thornton & Baines are Legal Practitioners specialising in Inheritance Tax planning, helping new and existing members minimise the amount of Inheritance Tax they will pay on their estates.
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Legal advice is the application of abstract principles of law to the concrete facts of the client’s case in order to advise the client about what they should do next.
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