It is important to write a will during your lifetime clearly expressing to whom you would like your assets to go and who you wish to execute your will. Failing to create a valid will can complicate you family's life at a time that is already difficult due to their loss.

In October 2007 the government made it possible to transfer unused inheritance tax thresholds between spouses and civil partners. The threshold can only be transferred once the second person has passed away. Form IHT 402 or IHT 400 will need to be completed to make the claim for inheritance tax threshold transfer. The full and most up to date details can be found on the HMRC website.

Speak to our Exeter IFA team to learn more.