22/07/2026
You shouldn't worry about it, but the truth is that inheritance tax is not just something that affects the super-rich anymore, so you do need to understand it.
IHT is charged at a whopping 40% on the value of your estate above the tax-free threshold (currently £325,000, which is frozen until 2029/30). With rising property prices, more people are being caught in the net than ever before. Planning now means less of your hard-earned wealth goes to the taxman and more goes to your loved ones.
The second thing to know is that IHT often has to be paid before your family can fully access the estate's assets (like selling a house). If there isn't enough cash in the bank, your executors might face a major stressful challenge to find the money, potentially forcing a quick sale of a property.
Making a plan, including a Will, ensures your wishes are met and avoids unnecessary stress, delays, and conflict for your family during an already difficult time.
So no matter what age you are, a small amount of planning now can save your family a massive amount of money and heartache later.
