Many of our clients ask a little vaguely about “sorting out Wills/Inheritance Tax”. In some cases this simply means reviewing an existing Will or making a new one. However, more often than not the exercise turns out to include reviewing life policies and pension plans, and Inheritance Tax (IHT) planning as well. In fact trying to make a Will without integrating life policy and pension death benefits, and understanding the IHT implications, can lead to some unfortunate tax consequences.
We normally charge a fixed fee of £300 - £500 for a “brainstorming meeting” to discuss any tax or succession planning issues a client cares to raise.