CGT - planning for death is not as easy as ABC

inheritance

Estate planning can have significant consequences, so it is necessary to look at the potential costs of passing on assets, the ways to mitigate these costs and the benefits and disadvantages of each method

I hate to question the wisdom of Benjamin Franklin, but there are in fact few things in life more uncertain than death and taxes. By that I mean life could actually be simpler if we could foresee the precise hour of our passing and the cost that this might entail for those left behind. That may not be such a welcome scenario for financial advisers, but it is certainly true for the increasing numbers in the UK whose estates are now liable for inheritance tax (IHT). For them, it might avoid some of the complexities of succession planning and the potential pitfalls involved in passing on we...