Inheritance Tax Tips and Traps in Estates and Trusts

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Wills are drafted, and estates administered, primarily to ensure the right beneficiaries benefit in accordance with the testator’s wishes. But there are often IHT issues that need to be considered, with more or less good ways to leave benefits for IHT purposes. Sometimes the IHT advantage may not be immediate, but on a later death, and clients may not want to spend more now for that better later result, but can we give clients options to consider? This talk will explore current issues for IHT planning by wills and trusts, and issues arising in estate administration, both specific tips to take up and some traps to avoid!

This talk will consider:

• Provisions in wills that might inadvertently increase IHT or reduce it
• Variations of estates and trusts to consider within 2 years of death
• Specific drafting of wills and trusts clients might wish to consider for mitigating IHT
• Steps to watch to help clients avoid traps

John Bunker, Solicitor, Chartered Tax Adviser and Lecturer