WHAT IS A WILL ?
A will is a legal document that sets out the wishes of the testator (person making the Will) with regard to the distribution of the estate (net assets) of the testator after the death of the testator.
CAN A WILL AFFECT FUTURE TAX LIABILITIES ?
A Will can if structured correctly be used to minimise the beneficiaries future inheritance tax liabilties. There are various reliefs, exemptions and thresholds which if utilised correctly will avoid or reduce the liability to inheritance tax.