What about Inheritance Tax?
Despite recent changes in the Finance Bill The Discretionary Trust Wills can still save Inheritance Tax. If the value of your estate is more than £325,000 (2018/19) after payment of debts and any gifts to your husband or wife or a charity then Inheritance tax may be payable at 40% on the value over this amount. So if you are a couple and your estate is worth £750,000 and you have made simple Wills then on the first death there is no Iht payable providing you are married, due to the spouse exemption, but now your spouses estate is worth £750,000 so that on the second death INHERITANCE TAX may be due. Ezwill.co.uk can advise you on ways of reducing or removing the impact of inheritance tax on your estate. We can also help you make use of your spouses Nil Rate band if it was unused when they died. Its got to be worth it for your family's benefit and I certainly would not like to leave more to the Treasury than I have to. Simple Wills are not always the answer.