Keeping a record of the gifts made is vital as the 'test' for the exemption is only carried out post-death.
Finally, where clients wish to retain access to funds or control of the capital, other approaches such as 'gift and loan' trusts or discounted gift trusts may offer more suitable strategies. However, the overriding objective in all these scenarios is to move future growth outside the estate.
* Projected to increase at 3% per annum and have increased
Key Considerations:
There are a number of options available to you when it comes to estate planning, and inheritance tax mitigation. It is imperative that you consider ALL the options available to you before you take any action.
ACTION POINT
Calculate what your current exposure is to IHT. Once you've done this, devise suitable strategies to help reduce the amount of tax that your beneficiaries would have to pay. It's advisable to speak to an estate planning specialist as of all the financial planning areas, this is probably one of the most complicated.
Page 2 of 2 :: First | Last ::  Prev | 1 2 | Next 
|
