You may feel that having spent the majority of your life working hard to create a legacy to benefit your family that paying further tax in the form of Inheritance Tax is wholly undesirable.
Whilst you might wish to leave charitable legacies, or specific gifts to deserving friends there are probably other people who you do not want to benefit.
Your plans are unlikely to include allowing other people to threaten your estate e.g. creditors to your children, lawyers representing your children’s estranged spouses or local authorities to fund care costs.
Careful estate planning can help to mitigate these threats.
Risk Warning: Inheritance Tax Planning and Estate Planning is not regulated by the Financial Conduct Authority