Best Financial Advisors in Birmingham

Are you going to leave an Inheritance Tax problem behind when you die? More people than you think are going to have a problem unless they take steps to address this. The reality is that unless you do some Inheritance Tax planning the tax-man is going to walk away with a chunk of your money. 40% of anything over £325,000. There are many ways to deal with your Inheritance Tax bill. One way is to take out a life insurance policy that can pay part or all the IHT due and shield your family from this. Here’s an example. This looks expensive but bear with us! There’s a married couple both aged 65 with an expected inheritance tax liability of £200,000 when the last one dies. If they take out a life insurance policy for this sum, it would cost £358.28* per month. This represents an outlay of £4,300 per year. But, this couple would have to live to the age of 111 before the premiums they’ve paid exceed the Inheritance Tax payable. Quote based upon male and female married couple who are both aged 65, non-smokers, are fit and healthy and have no historic medical conditions. Tax Planning and Inheritance Tax Planning is not regulated by the FCA. Tax treatment varies according to individual circumstances and is subject to change. *Source: Iress Comparison Report Whole Of Life 20.09.19 At Four Oaks Financial Services, your first consultation is at our cost and our Advisers are fully qualified to give advice on Inheritance Tax planning in Sutton Coldfield and across the Midlands.