Leaving a Legacy


Clients referred to us by their Solicitor were concerned about their IHT liability. Following a full review of clients assets, liabilities, income and capital needs, it was apparent that they had a substantial IHT liability in the region of £400,000.

Whilst they were keen to mitigate this burden from their estate they were not in a position to gift away sufficient assets,as they had a need to generate income for both the short and long term and both clients were in good health for their ages. We took into account the clients requirement for a reasonably simple solution, which would allow them to maintain control and access to the majority of their liquid assets for their current and future income and capital needs. However they were keen to reduce the IHT burden for their ultimate beneficiaries.

Having considered and discussed a number of different trust and gift based options, we recommended a simple solution to place a single premium joint life last survivor whole of life plan in trust to their beneficiaries,with a sum assured sufficient to meet the IHT liability. The clients did have the spare capital required to fund the premium, leaving their other assets free and available for their personal use.

The plan in trust would be paid free of tax and speedily, without the need of probate and be sufficient to fund the IHT bill, leaving the remainder of the estate intact for the family.

Clients therefore retained control over their estate and access to their portfolio for their own use, secure in the knowledge that they had dealt with the substantial IHT issue and protected their estate for their beneficiaries.

Creating peace of mind

Clients were a retired couple, tired and frustrated with paperwork and endless administration of their investment portfolio,which they had accumulated over many years.