Nobody likes talking about death and we don’t much like talking about money either. So it’s hardly surprising that none of us relish the thought of estate planning. However, while we might not enjoy talking about death and money, we also don’t want to pay the taxman any more than we have to.
Inheritance Tax (IHT) is often described as a voluntary tax and, if you’re prepared to start thinking about what will happen to your money when you die, there’s often plenty you can do to reduce the tax bill your loved ones will eventually face. You might also get the opportunity to leave your family a ‘living inheritance’ and enjoy seeing them benefit from your wealth before you go.