Estate & Inheritance Tax Planning

Why is Estate & Inheritance Tax Planning Important?

• Preserve Your Wealth: Careful planning helps preserve your wealth for future generations, ensuring your loved ones are financially secure.
• Minimize Tax Liabilities: Strategic planning can minimize inheritance tax and other potential taxes, maximizing the value of your estate for your beneficiaries.
• Avoid Family Disputes: A clear and well-defined plan can help prevent disputes among family members regarding the distribution of assets.
• Fulfill Your Wishes: Estate planning ensures your assets are distributed according to your wishes, supporting the people and causes you care about.
• Peace of Mind: Knowing you have a secure plan in place provides peace of mind for you and your loved ones.

Our Estate & Inheritance Tax Planning Services

• Will Preparation and Review: We assist with drafting or reviewing your will, ensuring it accurately reflects your wishes and complies with legal requirements.
• Probate and Administration of Estates: We guide executors and beneficiaries through the probate process, ensuring efficient and compliant administration of the estate.
• Trust Formation and Management: We advise on setting up and managing trusts to protect assets, minimize tax liabilities, and achieve specific estate planning goals.
• Gift and Inheritance Tax Planning: We develop strategies to minimize gift and inheritance tax liabilities, considering applicable exemptions and reliefs.
• Asset Protection: We advise on strategies to protect your assets from creditors, litigation, and other potential risks.
• Succession Planning for Businesses: We help business owners develop succession plans to ensure a smooth transition of ownership and management.
• Philanthropic Planning: We assist with setting up charitable trusts and foundations to support causes you care about and maximize tax benefits.

Understanding the Nigerian Context

• Capital Gains Tax (CGT): CGT may apply to the disposal of assets during the administration of an estate.
• Personal Income Tax (PIT): Beneficiaries may be liable to PIT on income generated from inherited assets.
• Administration of Estates Law: Each state in Nigeria has its own laws governing the administration of estates, adding complexity to the process.

Benefits of Partnering with Stransact

• Expert Guidance: Our team of experienced professionals possesses in-depth knowledge of estate planning laws, tax regulations, and probate procedures in Nigeria.
• Personalized Solutions: We develop customized estate plans tailored to your unique needs, goals, and family circumstances.
• Confidentiality and Trust: We maintain the highest level of confidentiality and act in your best interests throughout the planning process.
• Peace of Mind: We provide ongoing support and guidance, ensuring your estate plan remains relevant and effective as your circumstances change.