A free seminar exploring ways in which people with larger estates can pay less Inheritance Tax takes place at the Dovecliff Hall Hotel this spring.
Hosted by East Midlands’ Solicitors Flint Bishop, the event is aimed at individuals with assets of more than £500,000 and married couples, widows or widowers with total assets in excess of £1 million (amounts considered to be larger estates).
The seminar, on Thursday April 25, is being presented by Richard Shanks, Head of Investment and Financial Planning and Grace Steele, Head of Wills and Probate at Flint Bishop.
Both speakers will look at how bespoke financial and estate planning can be used to protect larger estates from IHT.
Richard said: “Although last October’s changes to the Inheritance Tax threshold means more people are now exempt from IHT, individuals with assets above the new threshold are still potentially liable to large amounts of tax”.
“That being the case, there are a number of ways people with larger estates can reduce their IHT liability so it is well worth exploring the various options”.
“They may, for example, be able to make use of the valuable Business Asset Relief and Agricultural Relief to reduce their IHT liability or make gifts to a Trust while still having access to either the income or in some cases the capital”.
“To avoid breaching tax rules though they must take specialised tax planning advice first.”
Richard, who works closely with the Wills and Probate Department, provides specialist advice to businesses and individual clients on all aspects of retirement and estate planning.
In addition, he and his team regularly review clients’ circumstances to ensure that the financial planning in place continues to meet the client’s objectives.
A Chartered Tax adviser, Grace Steele is among a small minority of Midlands lawyers to hold the AT11 tax qualification and is also a member of the Society of Trust and Estate Practitioners
The event begins at 10.30am and concludes with lunch at 12.15pm