A client who had set up and run his own business came to us for advice on how to reduce his inheritance tax liabilities, which would have been substantial had he passed away within the next seven years.

His own children were financially secure, and so we concentrated on his grandchildren: a Trust was established which would enable each of them to receive an income during the time they were going through University – thereby utilising their own personal tax allowances.

This strategy ensured his grandchildren enjoyed their education free of financial worries, it reduced his own children’s outgoings, and after seven years it significantly reduced the inheritance tax liability of his estate.

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