INHERITANCE TAX PLANNING
Inheritance tax is levied on your assets when you die. It can potentially be an enormous burden that your family has to pay from your estate, and may even force them to sell your family home.
Inheritance tax is a growing concern for more and more people, because it is no longer limited to the very wealthy. The value if even a modest property can take the owners into the inheritance tax bracket.
Happily, careful planning can mitigate your exposure to inheritance tax, so that your beneficiaries receive their share of your wealth, rather than the government. Life Insurance policies can be a key element in inheritance tax planning, provided that they are set up in a way that enables them to fund any inheritance tax liability.
The value of investments and the income from them can go down as well as up and you may not get back the amount originally invested.
HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen.