Raj and Hannah are a married couple who have a significant estate with joint assets worth more than £2 million. They have Wills leaving assets to each other and then to their two children. They would like to reduce their IHT liability as a priority and believe they are missing some opportunities. They are also concerned about their wealth passing to their children unprotected. Their daughter is independently wealthy, and they are concerned that their grandchildren may pay IHT in future years on the inheritance. Their son is in a difficult relationship and fears that his inheritance may be subject to a future divorce concerns them greatly.
These are the three most common concerns for many clients with an IHT and protection requirement. With more advanced planning using a High Net-Worth Family Beneficiary Protection Plan, protective benefits for the spouse and children can be readily provided and potential IHT benefits can be realised. A Beneficiary Protection Plan would immediately reduce the tax burden of the family by more than £100,000.