Lockings Solicitors

[vc_row css=”%7B%22default%22%3A%7B%22padding-top%22%3A%220px%22%2C%22padding-bottom%22%3A%2290px%22%7D%2C%22tablets%22%3A%7B%22padding-top%22%3A%220px%22%2C%22padding-bottom%22%3A%2290px%22%7D%2C%22mobiles%22%3A%7B%22padding-top%22%3A%220px%22%2C%22padding-bottom%22%3A%2230px%22%7D%7D”][vc_column width=”5/12″][us_image image=”856″ size=”full” align=”center” has_ratio=”1″ ratio=”2×3″ el_class=”about_us_img”][/vc_column][vc_column el_class=”our-people” width=”7/12″][vc_column_text css=”%7B%22default%22%3A%7B%22font-family%22%3A%22Avenir%20Bold%22%2C%22font-weight%22%3A%22800%22%2C%22font-style%22%3A%22normal%22%2C%22font-size%22%3A%2240px%22%2C%22line-height%22%3A%2260px%22%7D%7D”]

Supporting You Wherever We Can

[/vc_column_text][vc_column_text css=”%7B%22default%22%3A%7B%22color%22%3A%22%23314455%22%2C%22font-family%22%3A%22Avenir%22%2C%22font-weight%22%3A%22400%22%2C%22font-style%22%3A%22normal%22%2C%22font-size%22%3A%2216px%22%2C%22line-height%22%3A%2224px%22%7D%7D”]Unless you leave your estate to someone who is an “exempt beneficiary” (usually a spouse, civil partner or charity) Inheritance tax (IHT) at 40% will be applied to your estate once it exceeds a legally set threshold. The amount of your estate you can leave without paying Inheritance Tax will depend on a number of factors and our specialist lawyers can advise you how to minimise the Inheritance Tax payable depending on your own circumstances.

Planning your estate ahead of time is a wise move for everyone even if you don’t think that there will be Inheritance Tax to pay when you die
[/vc_column_text][us_btn label=”our people” link=”url:https%3A%2F%2Fwww.lockin.gs%2Fabout-us%2F|title:About%20Us” style=”5″ css=”%7B%22default%22%3A%7B%22max-width%22%3A%22200px%22%2C%22min-width%22%3A%22200px%22%7D%2C%22mobiles%22%3A%7B%22max-width%22%3A%22100%25%22%2C%22min-width%22%3A%22300px%22%2C%22margin-left%22%3A%22auto%22%2C%22margin-right%22%3A%22auto%22%7D%7D”][us_btn label=”Contact us” link=”url:https%3A%2F%2Fwww.lockin.gs%2Fcontact-us%2F|title:Contact%20Us” style=”4″ css=”%7B%22default%22%3A%7B%22max-width%22%3A%22200px%22%2C%22min-width%22%3A%22200px%22%7D%2C%22mobiles%22%3A%7B%22max-width%22%3A%22100%25%22%2C%22min-width%22%3A%22300px%22%2C%22margin-left%22%3A%22auto%22%2C%22margin-right%22%3A%22auto%22%7D%7D”][/vc_column][/vc_row][vc_row css=”%7B%22default%22%3A%7B%22background-color%22%3A%22%23EBEBEB%22%2C%22padding-left%22%3A%2250px%22%7D%7D” el_class=”service_faq”][vc_column][vc_custom_heading text=”Inheritance Tax Planning FAQs” font_container=”tag:h2|text_align:center” use_theme_fonts=”yes”][vc_tta_accordion][vc_tta_section title=”1.How does inheritance tax work?” tab_id=”1620377447718-01c513a1-8e81″][vc_column_text css=”%7B%22default%22%3A%7B%22font-size%22%3A%2216px%22%7D%7D”]The current rate of Inheritance Tax is usually 40%, (in some circumstances this can be reduced to 36% and we can advise how this can be dne) but this could be changed in future. Not all estates will pay Inheritance Tax but to check whether it will be payable on your death you need to speak to one of our experienced lawyers.

Your estate is the value of all of the assets you own such as property, capital, investments and personal belongings. When working out whether Inheritance Tax is payable it may also include joint assets, assets in trust , and some gifts you made during your lifetime. As such, estate planning is complex and incredibly individual.

Inheritance Tax is paid from your estate before the assets are distributed to your beneficiaries Therefore, IHT directly impacts the amount of inheritance your loved ones will receive.[/vc_column_text][/vc_tta_section][vc_tta_section title=”2. Why is inheritance tax planning important?” tab_id=”1620377447764-7fbddfa9-1d93″][vc_column_text css=”%7B%22default%22%3A%7B%22font-size%22%3A%2216px%22%7D%7D”]Planning ahead allows you to clearly identify who should get what from your estate. Going above and beyond a will lawyer, estate planning solicitors ensure your wishes are met even in the face of government regulations and changing inheritance obligations. Inheritance tax planning allows you to consider all available reliefs and exemptions so that you can maximise the value of the inheritance you pass to your beneficiaries.[/vc_column_text][/vc_tta_section][vc_tta_section title=”3. How will an estate planning solicitor help?” tab_id=”1620377566174-43ccafaa-6fb3″][vc_column_text css=”%7B%22default%22%3A%7B%22font-size%22%3A%2216px%22%7D%7D”]Estate planning solicitors show you the most tax-efficient options for your estate. With a sharp sense of this changing area of law, these solicitors work with specialist advisors to create up-to-date documentation that’s both legally sound and financially favourable.

At Lockings, we offer a bespoke inheritance tax planning service to consider everything you own, from property to trusts and more obscure assets. We never give generic tax advice or make quick decisions without debate. We work with you to form a financially sophisticated plan assembled according to your assets and wishes for the future.[/vc_column_text][/vc_tta_section][vc_tta_section title=”4. Do I also need to hire a specialist Will lawyer to assist with my estate?” el_id=”1620377609716-0ebc5928-ffd2″][vc_column_text css=”%7B%22default%22%3A%7B%22font-size%22%3A%2216px%22%7D%7D”]Yes. A specialist Will lawyer will help you to draft and sign a Will that complies with the Wills Act 1837. It’s highly advised to enlist the help of a specialist when writing a will to make sure its clauses are clear and unambiguous DIY Wills are more likely to be disputed on your death and can ultimately mean that there are unexpected legal bills associated with administrating your estate. DIY Wills are often unclear and may mean that the people you want to benefit will not inherit from your estate. At Lockings, we have will lawyers and estate planning solicitors in the same team to draw up legally correct documents, while advising on the best course of action when it comes to your estate.[/vc_column_text][/vc_tta_section][/vc_tta_accordion][us_btn label=”Have more questions? Speak to an estate planning solicitor for a free, no-obligation chat” link_type=”onclick” style=”4″ align=”center” el_class=”popmake-931″][/vc_column][/vc_row][vc_row height=”auto” width=”1″ columns_gap=”0″][vc_column stretch=”1″][us_page_block id=”1236″][/vc_column][/vc_row][vc_row height=”auto” content_placement=”middle” css=”%7B%22default%22%3A%7B%22background-color%22%3A%22linear-gradient%28to%20right%2C%23FFF%2050%25%2C%20%231DB055%2050%25%29%22%7D%2C%22tablets%22%3A%7B%22background-color%22%3A%22rgba%28255%2C255%2C255%2C0.00%29%22%7D%2C%22mobiles%22%3A%7B%22background-color%22%3A%22rgba%28255%2C255%2C255%2C0.00%29%22%7D%7D” el_class=”service_form”][vc_column][vc_row_inner content_placement=”middle” css=”%7B%22default%22%3A%7B%22padding-top%22%3A%2280px%22%2C%22padding-bottom%22%3A%2280px%22%7D%2C%22tablets%22%3A%7B%22padding-top%22%3A%2280px%22%2C%22padding-bottom%22%3A%2280px%22%7D%2C%22mobiles%22%3A%7B%22padding-top%22%3A%220px%22%2C%22padding-bottom%22%3A%2250px%22%7D%7D”][vc_column_inner css=”%7B%22default%22%3A%7B%22margin-left%22%3A%22auto%22%7D%7D” width=”1/2″][vc_custom_heading text=”Talk to Us Today — Or Tomorrow at the Latest” use_theme_fonts=”yes” css=”%7B%22default%22%3A%7B%22color%22%3A%22%23314455%22%2C%22font-family%22%3A%22Avenir%20Black%22%2C%22font-size%22%3A%2240px%22%7D%7D”][vc_column_text css=”%7B%22default%22%3A%7B%22color%22%3A%22%23314455%22%2C%22font-family%22%3A%22Avenir%22%2C%22font-weight%22%3A%22400%22%2C%22font-size%22%3A%2216px%22%2C%22line-height%22%3A%2224px%22%2C%22margin-bottom%22%3A%2232px%22%7D%7D”]Talk to us about inheritance tax in a free initial consultation and tell us about your assets and will. If you already have a Will and are concerned that it may need to be updated we are happy to discuss with you how the Will will be administered in your current financial and personal circumstances. [/vc_column_text][/vc_column_inner][vc_column_inner css=”%7B%22tablets%22%3A%7B%22background-color%22%3A%22%231DB055%22%7D%2C%22mobiles%22%3A%7B%22background-color%22%3A%22%231DB055%22%7D%7D” el_id=”formgrvaity” width=”1/2″][gravityform id=”1″ title=”true” description=”true” ajax=”true” tabindex=”78956″][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]