Strategic planning to reduce your tax liability


Individuals who have estates with a value greater than the current Inheritance Tax (IHT) tax-free allowance, should consider strategic Inheritance Tax planning, which could help to significantly reduce your tax liability.   

Depending on the assets included in your estate and future plans for them, creating a Trust could be a very useful vehicle for tax planning. Trusts act as a tax-efficient way of passing assets down through generations, protecting them in both the short and long term.

Depending on whether you’re setting up a Trust in your lifetime or on death in your Will, there are various things you need to consider and Prettys’ dedicated team are on hand to guide you through them all. The Trust you create will depend on what you wish to achieve from it and who is to benefit. For example, the purpose of the Trust could be to reduce IHT payments, provide for a vulnerable loved one or to manage a personal injury compensation award.   

The myriad of rules, regulations and possibilities surrounding inheritance taxation, planning and Trusts can become complex. By taking into consideration your individual circumstances, we are able to identify the best options for you and advise on any reliefs and exemptions available, helping you to make the most of them, reduce the tax burden and protect your family’s future in the process. 

What Can We Do For You?

Through experience, we have gained the knowledge needed to effectively support you in Inheritance Tax planning. Solicitors in our dedicated team can advise you on: 

  • Inheritance Tax planning, including Trusts and identification and guidance on relevant IHT exemptions and reliefs
  • Personal Injury and CICA Trusts
  • Trusts relating to vulnerable beneficiaries 
  • Creating a Trust to fund school fees 
  • Setting up a Trust to benefit minor Beneficiaries or children from previous relationships
  • Trust which aid beneficiaries going through a divorce or financial difficulties, or beneficiaries in receipt of means-tested benefits

Discover how you and your family could benefit from tailored legal guidance from Prettys’ Inheritance Tax planning solicitors. Contact our Wills, Trusts and Estates services team find out more.

Why Choose Prettys?

Prettys’ team of experienced solicitors has been helping private clients manage the legal aspects of their estates for many years, offering a personalised service that is centred around their needs. We understand the sensitivity and importance of handling your estate with care, and our legal experts offer an exceptional service to suit. For this reason, our services are proudly backed by the Law Society’s Lexcel quality mark.

For answers to some of the most common questions concerning Inheritance Tax planning and Trusts, please scroll down to the FAQs section at the bottom of this page.

To find out how our specialist solicitors can help you with Inheritance Tax planning and Trusts, contact us on 01473 232121 or enquire online or send an email to enquiry@prettys.co.uk and we’ll be in touch.

Emma Woollard