Inheritance Tax and Estate Planning

Thinking ahead may not be easy, but ensuring your loved ones are protected is one of the most important steps you can take. At Lambert Chapman, our dedicated team provides tailored advice on inheritance tax and estate planning — putting your wishes and your family first.

Why do you need estate planning?

After years of hard work and accumulation, you’ll want to make sure as much of your wealth as possible passes to those you choose, not to HMRC. Without proper planning:

• You may miss out on allowances, reliefs, or exemptions

• The tax burden on your estate could be unnecessarily high

• Conflicts or legal uncertainty may arise for your heirs

• Your wishes may not be fulfilled in the way you intended

By planning in advance, you improve the chances that your estate is passed on smoothly, tax-efficiently, and in line with your intentions.

How can we help?

Our service is built around understanding your circumstances, goals, and preferences – not offering one-size-fits-all solutions. Below is how we typically work with clients:

1. Discovery and evaluation

We begin with a detailed discussion of your financial position, assets, family structure, and future intentions. This helps us to identify risks, opportunities, and key decisions.

2. Strategy

With your inputs, we design a bespoke plan to help you achieve your objectives, focusing on:

• Will and estate review

• Lifetime gifting strategies

• Use of trusts (where appropriate)

• Maximising exemptions, reliefs, and lower tax bands

• Transferring agricultural or business property

• Assets placed into trusts

• Arrangements for life insurance to cover potential IHT liabilities

• Consideration of specialist investments or reliefs

3. Liaising with other advisers

We often work in collaboration with your solicitor, financial planner, or other professionals (with your permission) to ensure consistency and legal compliance, ensuring that your plan is executed properly.

4. Ongoing review & adjustment

As tax rules, your circumstances, or your assets evolve, your plan should adapt accordingly. We keep your plans under regular review to help ensure they remain effective.

We have included some of our most frequently asked questions about Inheritance Tax and Estate Planning at the end of this page.

Why choose Lambert Chapman’s team?

• Experienced leadership – Our estate planning work is led by Lucy Orrow, Tax Partner, supported by a discreet, expert team.

• Personal, not generic – Your situation is unique. We don’t push pre-packaged solutions. We tailor our plan to your needs.

• Holistic approach – We balance securing your wealth, meeting your own life needs, and safeguarding your beneficiaries’ future.

• Coordination and clarity – We liaise with legal or financial advisers as needed to ensure alignment and reduce duplication.

• Discretion assured – Estate planning is an inherently sensitive area. We handle every detail with confidentiality and professionalism.

➡️ Get in touch

If you would like to explore how inheritance tax and estate planning services can help protect your wealth and legacy, contact us today. We’ll arrange an initial consultation to understand your situation and propose a tailored solution.

Frequently Asked Questions about Inheritance Tax & Estate Planning

1. What is inheritance tax (IHT)?
Inheritance Tax is a levy on an estate (property, money, possessions) when someone dies, usually charged at 40% above the available allowances.

2. How much can I leave tax-free?
The current nil-rate band is £325,000 per person, with additional allowances such as the Residence Nil Rate Band, depending on circumstances.

3. Can estate planning reduce taxes?
Yes. Lifetime gifting, trusts, and other planning strategies can significantly reduce inheritance tax liabilities.

4. Do I need a solicitor as well as an accountant?
Both play important roles. Accountants focus on tax efficiency, while solicitors handle legal documents such as wills and trusts.

5. When should I start estate planning?
The earlier the better – planning ahead gives more opportunities to minimise tax and protect assets.