TEP-Talk: Estate Planning with Wills
A Will is a useful tool for tax planning, in fact, it is the first and last tool for tax and estate planning.
Getting your Will right is important
Since no inheritance tax is due on the family home between husband and wife and between registered partners, it can be advantageous to leave the family home in full to your spouse or partner. But then the children may pay more inheritance tax.
Another useful planning technique is to skip a generation by making bequests directly to grandchildren, spread the estate over as many people as possible and reduce the inheritance tax.
These are just some of the planning techniques that will be discussed during the presentation. Paying less inheritance tax is one of the reasons to make a Will, there are many more (give to charity, make sure your children do not get access to the money too early, protect your wealth against an evil son or daughter-in-law, ...)