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Parfitt Cresswell explain why it is important you should make a Will

Ask the Expert: How does inheritance tax work?

Carl Lamb on Inheritance Tax Allowances - Credit: Smith & Pinching/Getty This week our reader wants to know how inheritance tax works.  Reader question:  My parents are in their early 80s and in good health. They are quite wealthy but are not in the habit of talking to us – their three children – about money matters. My dad said recently that he didn’t think there would be any inheritance tax to pay when they die but I’m concerned he might be wrong. Can you explain how inheritance tax works please? You may also want to watch: Carl Lamb of Smith & Pinching responds: 

Parfitt Cresswell explain why it is important you should make a Will

Do I really need to make a Will? None of us like to think too much about getting older. Dying and planning what will happen to our assets can seem a laborious and overly complicated task, so it’s hardly surprising that more than half of UK adults (59 per cent) don’t have a Will in place [i]   Put simply, making a Will allows you to choose who gets your assets after your death. A valid Will is one of the most important financial arrangements you can make during your lifetime and could save your family and loved ones a huge amount of cost, trouble and heartache when you die.

Money Talk: Inheritance Tax & property rules help Britons leave funds to their children | Personal Finance | Finance

Money Talk: Inheritance Tax & property rules help Britons leave funds to their children | Personal Finance | Finance
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