Trusts as a Tool for Inheritance Tax Planning Trusts are widely used in inheritance tax planning because they allow individuals to control how their assets are managed and distributed. A trust involves transferring assets to a trustee who manages them on behalf of beneficiaries. These structures can provide tax benefits, protect assets from legal disputes, and ensure long-term
Trusts as a Tool for Inheritance Tax Planning Trusts are widely used in inheritance tax planning because they allow individuals to control how their assets are managed and distributed. A trust involves transferring assets to a trustee who manages them on behalf of beneficiaries. These structures can provide tax benefits, protect assets from legal disputes, and ensure long-term
The Role of Gifts in Inheritance Tax Planning Giving gifts during your lifetime is one of the most effective ways to reduce the value of your taxable estate. Many tax systems offer annual or lifetime gift allowances that let you transfer money or assets to family members without triggering tax charges. These gifts can gradually lower the size
Why Professional Advice Matters in Inheritance Tax Planning Inheritance tax rules can be complex, and even small mistakes can lead to unexpected tax bills or legal complications. This is why professional advice is often essential when creating an inheritance tax plan. Financial advisers, tax specialists, and estate planning attorneys can help you understand your options and select strategies
