Deathbed Inheritance Tax Planning

Deathbed Inheritance Tax Planning

As much as we like to be prepared and plan well in advance for our future, sometimes events can overtake us and we find ourselves with limited time in which to make decisions. Suddenly having to deal with one’s mortality can be painful enough, but it can be made even more distressing if we are concerned about providing for our loved ones in the most efficient manner, once we are gone. Here at Ten Forward we understand that unforeseen circumstances can mean we need to take immediate action to safeguard the future of our estate for our loved ones which is why we are able to provide an immediate 11th hour solution. As long as an individual is UK resident and domiciled, this solution allows them to immediately reduce the value of their estate for inheritance (“IHT”) purposes.

Key Features

  • Very simple and quick to implement, with no legal charge needed on assets;
  • Immediate reduction in the value of the individual’s estate on death;
  • No physical movement of assets until after the individual’s death;
  • Not affected by IHT anti-avoidance provisions relating to debts (s. 103 FA 1986);
  • Not affected by the general anti-abuse rule (“GAAR”); and
  • Non-DOTAS arrangement.

Key Benefits

  • 40% IHT tax charge eradicated;
  • Tax savings can be utilised immediately;
  • 40% of solution fee indirectly subsidised by HMRC;
  • Sophisticated succession planning; and
  • All of the estate goes in the direction of your choosing.