Inheritance Tax
There are many solutions to mitigating Inheritance tax (IHT), one of them is insuring the likely tax bill...
This is particularly attractive for people who neither want or can afford to give away their money.
You take out a Whole of Life policy that pays out on 2nd death. Usually you have to live for around 60 or so years before you have paid as much in premiums as the amount paid out.
It is actually a good investment opportunity where your family will get back a healthy profit on the premiums you have paid.
You MUST only ever opt for guaranteed premiums as I have seen people having to cancel their plans, having paid reviewable premiums for many years. When you get to around 70+ the premiums are usually reviewed annually. I have never seen the premiums go down, always the same or up, and often MASSIVELY up.
60 Second Case Study: Many thousands of pounds saved...
Mrs J had just lost her father and was about to instruct a high street bank to do the estate administration for an exorbitant fee. Luckily, she spoke to us first and we put her in touch with a probate specialist who did it with a saving of £14,500 on a £500,000 estate.
If you want to benefit from a lower-cost, fixed-fee probate service, please do get in touch.