Your Wills can help put your part of affairs in order. When completed they provide great peace of mind for you and your whole family. It is very satisfying to know your wishes have been documented, you have appointed guardians for your children, your prize possessions have been bequeathed to your loved ones, and you may have even made provision for your pets. In addition, for many people the most important part of the Will making process is the opportunity to plan ahead and consider future tax liabilities.

Inheritance tax, estate tax and death duty are the names given to various taxes which arise on the death of an individual. Tax rates vary from country to country. Planning to reduce the impact of Inheritance Tax - to ensure that the largest part of a person's estate is passed to chosen beneficiaries - is, for various reasons, often too low on a person's list of priorities. Inheritance Tax can be an emotive issue; the overwhelming view is that having built up an estate during a lifetime - notwithstanding the payment alonginheritancetaxtax01.jpg the way of Income Tax, Capital Gains Tax and other forms of taxation - and hoping to pass on that wealth for the benefit of one's chosen heirs, there is then in some cases this final tax bill to pay.

There are many different strategies involved in Inheritance Tax planning, ranging from the very simple to the highly complex, and the sooner you start to plan the more money you and your beneficiaries will save in the long-term. A sensible and up to date Will is important and by protecting your estate from the taxman you could save a small fortune in Inheritance Tax!