Increasing IHT liability requires earlier planning

Research from the WAY Group, an investment adviser firm, show families typically begin estate planning around the age of 70, with men starting slightly earlier at the age of 69 while women tend to wait until they reach 72. Although men and women can both expect to live for at least another 13 years after they start planning for IHT, the Way Group says the changes in the March Budget to trusts means there is a “compelling need to start planning much earlier”, especially as the number of people caught by IHT is set to increase. The latest figures from HM Revenue and Customs (HMRC) reveal ...