Having worked hard throughout your life you'll want your family to benefit from your estate. Unfortunately the taxman could have other ideas. In 2006/2007, almost 30,000 estates paid Inheritance Tax (IHT) which could all have been avoided, or reduced with some forward planning.
There are some straightforward ways to reduce the burden of inheritance tax, often by simply re-arranging your affairs. Indeed the effects of IHT on an estate can sometimes be removed altogether. Each case must be examined individually and very careful planning is necessary to ensure that whatever is done is both practical and effective according to your personal circumstances.
Mitigation of IHT can be achieved by careful use of insurance products, wills and trusts.