Everybody needs to plan for the day that they aren't here. Our Inheritance Tax (IHT) team solely focus on how, where and when you pass that estate on. Most estates still need income and use of property but don't want their loved ones to lose 40% on their death.
Many clients have immovable assets such as property. Consider insuring that IHT on these assets.
When choosing an heir their is lots to consider - how much do they need, can you skip a generation, at what age do you want them to have access, do you want them to have an income but not control. Consider trustees and interest in possession wills.
Where will you pay your IHT? Will my UK assets still be charged if I am not UK domiciled? Should I consider changing my domicile? Consider the implications of severing all ties.
Many clients have unneeded capital but a need for income. Often clients don't want to hand that control to a beneficiary while they are still living. Consider a discounted gift trust.
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