An IHT planning tool enabling IFAs to show clients their potential tax liability if no action is taken has been launched by Zurich.
The Zurich IHT Adviser Tool also boasts an interactive options menu so clients can see the impact on their liability should they select any or all of the three solutions.
Peter Hamilton, protection management director, Zurich, says: “IHT mitigation is a hugely under-developed area and a growing problem for a large section of the UK population.
“We have developed this to help advisers navigate through the IHT planning process more easily, quickly and accurately.
“We are confident that the new tool will prove a real asset to advisers already working in this market and also help to attract more advisers to it.”
The tool demonstrates how it is possible to mitigate any liability by using any or all of the three potential planning solutions, shown in the tool under the following headings:
Use both nil rate bands if possible and make sure wills support this (see note 1)
Reducing your estate by making gifts (see note 2)
Provide funds for beneficiaries to pay the IHT bill (see note 3)
Hamilton continues: “We have developed the tool with the needs of advisers and their clients in mind and engaged with advisers throughout the development process.”
SimplyBiz spokesman Gary Kershaw, adds: “Having seen a demonstration of the system first hand I can see how IFA’s can provide real value to their clients when using the tool to provide a solution to a clients IHT position.
“Its simplicity alone stands it out from other tools available and I have no doubt that it will enable an IFA to offer a true solution to what is becoming an ever more regular issue for clients.”
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