Inheritance Tax Planning
Successful and comprehensive IHT planning requires a deep understanding of tax laws, financial regulations, and individual circumstances. Yet, despite the availability of online resources and DIY financial planning tools, many individuals may find themselves ill-equipped to address the complexities of IHT effectively.
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Life insurance can serve as a financial buffer, providing the necessary funds to cover IHT bills directly. This is particularly advantageous as it circumvents the need for beneficiaries to potentially liquidate assets from the estate to pay taxes.
The significance of IHT, coupled with the importance of early planning, cannot be overstated. By engaging in proactive measures, individuals can significantly reduce, or in some cases, completely avoid the IHT liability on their estates, ensuring that their assets are distributed according to their wishes and not consumed by taxes.
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Note: This page is for information purposes only and should not be considered as financial advice. Always consult an Independent Financial Adviser for personalised financial advice tailored to your individual circumstances.