Q. How can I avoid inheritance tax having to be paid on my estate after I die?
It is not always possible to avoid inheritance tax altogether, but it can often be mitigated. This can involve giving assets away during your lifetime or, if you are married, giving assets away to someone other than your spouse on first death. This can be done without adversely affecting the surviving spouse's financial security by the use of appropriate trusts.
Q. Can I appoint someone to deal with my financial affairs if I become ill in the future?
Yes by using a lasting power of attorney (see our elderly client page). However the use of such documents must be considered very carefully including the choice of your attorney, and whether his or her powers under the document should be restricted.
Q. If I don't have a will, what will happen to my house and my other assets when I die?
Your estate will be distributed under the intestacy rules, and these can produce surprising results. For example, your spouse may not be entitled to all of your assets. If you are living with a partner, he or she will not be provided for under the intestacy rules.
