Episode 3: Top Tips for Inheritance Tax Planning

In Episode 3 of the #TVLawyer Podcast, Melinda Giles talks to Giles Wilson Associate and STEP-qualified solicitor Caroline Woodham to discuss ways people can reduce their Inheritance Tax.  For years, Caroline has been helping people unlock these savings, ensuring that the inheritance they leave behind reflects their wishes as best as possible. Here, she speaks with Melinda about the complexities of this tax, what steps people can take, and what problems can be avoided with professional guidance. In this episode, they explore what Inheritance Tax is and how it affects your will, the benefits of leaving 10% of your estate to charity, and how a Deed of Variation can help your loved ones more than gifting money. They also explain the 7 Year Rule, the importance of seeking legal advice before gifting, and how downsizing may not affect your Residence Nil Rate Band. Plus, they discuss the unique tax benefits available to married couples and civil partners.