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Inheritance Tax and Inheritance Planning – Questions to Ask

Inheritance tax is not one of the topics that people like to talk about much. However, keeping yourself up to date with the latest inheritance rules and regulations is not only smart but important. And it's not just the rich and famous who need to be aware of the inheritance rules- if you have your own home or business, you need to make sure that you take some steps to ensure the safety of your loved ones after you left. If you want to know more about the inheritance tax planning, you can visit this site.

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So what are the kind of questions that you need to ask about inheritance tax and planning:

  • Do I need a will? 
  • Who should be the main beneficiaries of my will? 
  • How much can I leave without incurring inheritance tax liability? 
  • How abroad property affect my inheritance tax liability? 
  • How can my partner be affected by Inheritance Tax? 
  • What are the rules around the 'gifting' asset to my family? 
  • How to trust? 

As usual, the situation of each individual is different so it is important that you get the best advice – tailored to your specific needs.

So the best way to find out what is right for you is to talk to an independent financial advisor and get a free review of inheritance tax.