Understanding inheritance tax liability is crucial for estate planning. Liability depends on the value of the estate and applicable exemptions, such as the nil-rate band and spousal transfer allowances. It’s important to calculate potential liability early on and consider strategies like gifting, setting up trusts, or charitable donations to manage it. Regularly reviewing your estate value and plans helps ensure that any changes in tax laws or asset value are accounted for, keeping your liability under control.

Contact us to learn more.