Wills, probate & trusts
Overtaxed
Mar 23, 2009
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| Jenifer Gillman |
Gordon Brown’s attempt to steal one of David Cameron’s election bids 'to increase the threshold for inheritance tax to £1 million' seems to have lulled many into a false sense of security now that a married couple have a double tax-free limit on the second death provided everything passed to the surviving spouse on the first death.
Despite the recession, the present limit of £312,000 is not particularly generous, even doubled.
Many people are still well in excess of these figures and there are ways of reducing or avoiding inheritance tax altogether.
It really is important to review wills on a regular basis.
Partner Jenifer Gillman heads up our busy wills, probate and trusts department. An experienced lawyer, she has worked in Gloucestershire since qualifying in 1979 and is a member of the Society of Trust and Estate Practitioners. jenifer.gillman@willans.co.uk
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