Overview

This briefing by Macfarlanes’ Private Client team provides an introduction to estate planning for married couples.

UK inheritance tax (IHT) carries a headline rate of 40% and can be a heavy burden on a family following a death. But if you’re married or in a registered civil partnership with a same-sex partner, you can ensure that your family don’t pay more tax than necessary, looked at globally after both deaths. All it takes is some straightforward, coordinated planning in your respective wills.

This note assumes a standard textbook situation and gives a basic sketch of how some routine tricks can save the family money as well as outlining how you can successfully provide for the survivor and safeguarding the family wealth.

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