IHT a recent Government announcement

In light of the announcement made by the Government on Tuesday 9th October 2007 in relation to Inheritance Tax charges between married and civil partners, it may now be that you consider tax planning wills (otherwise known as discretionary trust wills) to be redundant. However the use of these special wills still have a very important part to play in your wealth planning for the future. Whilst their effectiveness for tax purposes has been diminished for married and civil partners, they still play a vital role in mitigating the tax burden for those of us who are not married or in a civil partnership - this should not be overlooked.

Furthemore the flexibility afforded by such arrangements facilitated by discretionary will trusts provide excellent opportunities for wealth planning in relation to matters such as care fees and retirement funding.

As a result we continue to recommend the use of discretionary will trusts for many uses apart from tax planning within the sphere of wealth management and would invite you to contact us should you require further information.