How to Mitigate IHT - The Options Considered for Private Client Advisors

Introduction

Inheritance tax is at the forefront of client’s minds as more and more estates are being taxed due to the freezing of the nil-rate band and the residence nil-rate band alongside increasing asset values.

In this full day course for private client advisors the various options open to clients to try and mitigate IHT are considered.

What You Will Learn

This course will cover the following:

• Nil Rate Band (‘NRB’) Discretionary Trusts
• When to ‘use’ the NRB & Residence NRB (‘RNRB’) on the death of a first spouse
• Maximising APR & BPR reliefs in wills and trusts
• Use of trusts to maximise RNRB with ‘unmarried’ and second families
• Variations and consideration - what does this mean?
• Situations in which a variation is advantageous
• Situations in which a variation is problematic
• Creating trusts by deed of variation
• Tax consequences of different types of variation
• Lower rate (36%) of IHT if 10% of net estate to charity - understanding the component parts, and merger of components
• What gifts should not be made and why?
• Options to beat seven-year survivorship period
• How to make the tax planning easier for the surviving spouse
• How to save IHT for future generations