I have been approached to provide advise on inheritance tax. I feel comfortable with this area of tax.
I am not sure once I have provided the advice, what is needed to make the whole thing legal. I know that a will would need to be drafted. Would this be it?
Replies (4)
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PI
Watch your PII if you write a will, you're probably not covered. (Best leave that to the bloodsuckers)
you may know and be comfortable about IHT
but do you know about trusts etc - it is entirely probable that an unqualified legal person would make a catastrophic error so dont draw up wills paricularly if there are any tricky tax points - end of....
Bloodsuckers - compared to some accountants, the legal professio
Watch your PII if you write a will, you're probably not covered. (Best leave that to the bloodsuckers)
Posted by pawncob on Tue, 16/11/2010 - 20:54
Anyone can write a Will.
That said, you must ensure that it is properly worded & witnessed etc and like most things the more complicated the provisions the more advisable it is to obtain legal assistance.
I think you will find a local solicitor who could do a straight forward Will for circa £100.
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Without wanting to generalise too much, my view on this is that 99% of general practioners can only give general advice on capital taxes (CGT/IHT) and wealth protection planning (the use of trusts for example). Unless the subject matter is very basic its best left for a practising tax adviser with a focus on IHT/CGT and trusts.
Apologies if that is you.