Inheritance Law

Inheritance can be one of the most frustrating areas of law to be faced with, as dealing with it will usually come unexpectedly, at the same time as the sad news of a person's death, and also because of the fact that dealings can be made much simpler by the actions of the individual concerned before they pass away. The actual figure changes every year, but inheritance tax is charged on an estate worth over £300,000, at a 40% rate. What this means is that the UK government's income from inheritance has gone up every year for the last ten years, and is now over three and a half billion pounds a year.

A specialist inheritance lawyer can advise you on what assets are used in the calculation of inheritance tax, and how much should be paid. They can also help you to arrange probate - that is, how the person's estate is divided between those mentioned in the will (or what to do if there is no will, or if there are disputes). A big part of inheritance law lies in the planning before you pass away, so you should seek a solicitor who has experience of arranging the most tax efficient method of dealing with your assets. This will usually involve setting up a trust for your property to be held in, as, if this is done correctly, income tax contributions can be avoided or reduced. Using a specialist will also mean that you can be sure the property will pass to those intended, and is the best way of minimising any potential conflicts.