Here, Tristan Hartey offers some solutions for helping to reduce your beneficiaries’ potential Inheritance Tax bill. 1. Make a Will Making a Will ensures your assets are distributed in accordance with your wishes. This is particularly important if you have a spouse or partner, as there is no IHT payable between the two of you, [...]
The structures into which you can transfer your assets can have lasting consequences for you and your family, and it is crucial that you choose the right ones. The right structures can protect assets and give your family lasting benefits. A trust can be used to reduce how much Inheritance Tax (IHT) your estate will have to pay on your death.
Contrary to the belief of some, Inheritance Tax not only affects the very rich, but other people may be liable without realising. Few taxes are quite as emotive – or as politicised – as Inheritance Tax. The structures into which you transfer your assets can have lasting consequences for you and your family. With the [...]