Inheritance Tax Mitigation – Immediate Reduction to your Estate
If you have a chargeable estate for inheritance tax (IHT) purposes (i.e. an estate which is currently worth in excess of about £1.6 million for a married couple or those in a civil partnership on the assumption that both nil rate bands will be available), then you may want to consider implementing a robust strategy to provide an immediate reduction in the value of your estate for IHT purposes.
Is this caught by those nasty anti-avoidance provisions?
No. Through careful trust structuring, it is possible to eliminate the value of your estate for IHT purposes so that no IHT will be payable upon your death. This form of legal structure is robust and, therefore, not caught by any of the anti-avoidance provisions.
What if I need access to my money?
No worries! You can access your funds at any time you like and such access does not negate the impact of the strategy.
Do I have to wait 7 years before this reduces the value of my estate for IHT purposes?
No. This structure provides an immediate reduction. This structure can be used at any time and is particularly useful when considering any ‘death bed” IHT planning.
Sounds great, how do I get started?
Why delay when you can start mitigating the inheritance tax liability for your heirs today.