Cohabiting partners don’t enjoy the same tax breaks as married couples. Here’s what you need to know about inheritance tax planning for unmarried couples.
Inheritance tax planning for unmarried couples
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Inheritance Tax
What are the duties of a will executor?
The duties of an executor of a will range from registering the death, arranging the funeral to dealing with assets and applying for probate.
Deed Of Variation
This is a useful method for allowing beneficiaries of a Will to rearrange the distribution of the deceased`s estate.
Leaving a Legacy to a Charity
We have all heard recently heard how Charities have been struggling financially during this current pandemic. Which is why it is important now more than ever to consider perhaps leaving them a legacy in your Will.
Inheritance tax – Husband and Wife (or Civil Partners)
No inheritance tax is payable on gifts between spouses or civil partners as long as both parties are domiciled in the UK. This is often used as a basic method of IHT avoidance.
Does giving your assets away save Inheritance Tax?
As Inheritance Tax (IHT) is calculated on the value of the estate at death (the assets that you leave when you die), reducing the value of the estate through gifts is the most basic form of IHT planning.Â
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