Inheritance Tax Planning

Last week I shared some information about inheritance tax planning and the many factors you should consider.

Some of the factors that I've mentioned are partial disposal of an asset that you inherit so that could be shares in a stock exchange that you can sell a portion of or a managed fund that you can sell a portion of.

You can use the Section 72 Life Policy which will cover all or part of an inheritance tax liability depending on obviously how much cover you take out.

Also, you can fully dispose of an asset and in that case, that's going to be a property or a house whereby you can't sell part of it.

Now where you might run into difficulty there is that you might have an individual who wants to keep the property in the family or may want to purchase it and that's where you'll need to have some long term planning in place to make sure that inheritance tax liability is covered.

If you're keen on learning more feel free to get in touch, my contact details can be found in the comments??

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