IHT contingencies

Apparently, failing to write life assurance in trust is still one of the most common inheritance tax planning errors. Both trusts and life assurance policies can have a significant role to play when it comes to succession and inheritance tax planning. Where term assurance policies are concerned, there is no economic benefit to the original policyholder in retaining the policy. The only reason to do so would be to retain complete power over disposition of the proceeds. However, a well-written trust deed can achieve a similar result without the same inheritance tax cost. A problem can a...