1. The main ways to avoid Inheritance Tax are to spend your money while you are alive or give it away.<\/p>\n
2. Work out how much Inheritance Tax might be due on your estate and regularly review it so you know what potential liability there is.<\/p>\n
3. Find out if the rules\u00a0which took effect from October 2007 which mean that married couples and registered civil partners can now make use of each other\u2019s tax-free allowance without special tax planning apply to you.<\/p>\n
4. If you set up special wills to deal with Inheritance Tax, review if they are still relevant.<\/p>\n
5. Make full use of any\u00a0tax-free gifts\u00a0you can make while you are alive.<\/p>\n
6. Put\u00a0life insurance\u00a0policies under an appropriate trust.<\/p>\n
7. If there\u2019s going to be a big Inheritance Tax bill, think about taking out an insurance policy for your heirs to pay
\nthe bill.<\/p>\n
8. Make a will\u00a0if you don\u2019t have one, otherwise the people you want to inherit may not.<\/p>\n
9. Anything you leave to charity is free of Inheritance Tax, so it can be a useful way of reducing your potential Inheritance Tax liability while benefiting a good cause.<\/p>\n
10. Never take steps that might leave you struggling for money while you are alive in order to save tax after you\u2019ve died.<\/p>\n","protected":false},"excerpt":{"rendered":"
10 steps to protect your family from a potential Inheritance Tax bill 1. The main ways to avoid Inheritance Tax are to spend your money while you are alive or give it away.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"_links":{"self":[{"href":"https:\/\/www.vizionwealth.co.uk\/news\/wp-json\/wp\/v2\/posts\/1549"}],"collection":[{"href":"https:\/\/www.vizionwealth.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vizionwealth.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vizionwealth.co.uk\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vizionwealth.co.uk\/news\/wp-json\/wp\/v2\/comments?post=1549"}],"version-history":[{"count":0,"href":"https:\/\/www.vizionwealth.co.uk\/news\/wp-json\/wp\/v2\/posts\/1549\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vizionwealth.co.uk\/news\/wp-json\/wp\/v2\/media?parent=1549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vizionwealth.co.uk\/news\/wp-json\/wp\/v2\/categories?post=1549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vizionwealth.co.uk\/news\/wp-json\/wp\/v2\/tags?post=1549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}