Inheritance Tax Planning
Part of Inheritance Tax planning can involve putting a specific life assurance policy in place to provide a lump sum to meet an Inheritance Tax liability on the death of the insured. Inheritance Tax is calculated on the total net value of a deceased’s estate, this means that the total assets of the deceased are considered e.g., family home, bank deposits, shares etc. The value of an estate and hence, the tax liability, can be substantial and have a huge impact on family members.
Estate planning and the issue of inheritance Tax forms an important part of any Financial plan.
