Where there's a will ..

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With the price of average London property now exceeding the current nil-rate band, the need for inheritance tax (IHT) planning has never been greater. Gerry Warner considers some effective ways of mitigating the potential tax charge

There are now many homeowners who are cash-poor and asset-rich as a result of rising house prices - even if the one and only asset is the family home. Those who plan to leave the family home to their children or grandchildren simply don't realise they or their beneficiaries could face a very real problem. "It might be a long way off", "it's too complicated" and "it can't really affect me can it? All I have is my house!" could all be typical responses from the average homeowner. This last reason is likely to have a major impact on the thinking of the ordinary homeowner, who may subsequentl...

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