Do you know the value of your estate?
Have you considered the total value of your estate as a whole? Do you know if your estate left to your beneficiaries will be liable for Inheritance Tax?
What is your IHT liability?
The IHT threshold until 5th April 2015 is £325,000. Any assets above the threshold amount will be taxed at 40%.
Do you have a strategy in place to mitigate this liability?
Have you considered giving gifts to loved ones or to charity in order to reduce your estate?