The "Which?" Guide to Giving and Inheriting ("Which?" Consumer Guides) - Softcover

Lowe, Jonquil

Softcover

ISBN 10: 0852028598 ISBN 13: 9780852028599

Publisher: Which? Books, 2001

Synopsis

Inheritance tax (IHT) is a major worry for more and more people. Rising house prices have increased the value of typical estates to a level where more people are likely to face a large tax bill. The inheritance tax maze is complex and often hard to negotiate. 'Giving and Inheriting' is an essential and comprehensive guide to estate planning and tax liability that will help you to reduce the tax bill faced by your heirs - ensuring your gifts go to your loved ones and not to the tax collector.'Giving and Inheriting' answers questions such as: how do taxes on lifetime gifts and residual estates work and what can you do about them? How can you dispose of assets without being liable for Pre-owned assets tax (POAT) instead of IHT? With up-to-the-minute practical advice on estate planning from an acknowledged financial expert, this guide explains: tax-free gifts and ways of reducing your heirs' tax liability; how trusts can still be useful despite new rules; gifts to children and to charity; special considerations concerning property, such as equity release schemes; and, your rights as a beneficiary and how to renounce unwanted inheritance.

About this title

Review

'A comprehensive guide for those in generous mood' -- Pensions World

'A good starter kit for potential donors ... clear, sensible ...
and helpful.' -- Money Observer

'Could be the wisest investment you will ever make' -- Irish News

Synopsis

Giving is easy, but it takes planning to make sure that those to whom you're giving receive as much as possible. Gifts are often wrapped in an unnecesary tax bill or miss out on available tax relief. Even if yur means are fairly modest, you may be unwittingly - and needlessly - storing up a tax bill for your heirs. With the use of handy calculators and over 40 exmaples of typical situations, this guide shows how a knowledge of tax rules, and taking simple steps such as making a will, can help to: use the tax system to increase the value of your giving; exercise some control over the way your gifts may be used; ensure that you pass on your home and other possessions intact; and make tax-efficient donations to charities.

Edition details

• Publisher: Which? Books
• Publication date: 2001
• Language: English
• ISBN 10: 0852028598
• ISBN 13: 9780852028599
• Binding: Paperback
• Edition number: 6
• Number of pages: 240