To sum up

Ensure that you have an up to date Will that reflects your personal wishes in terms of who you would like to benefit. This is particularly important if you and your partner are not married or members of a civil partnership.

IHT planning should always be done on a personal basis because every estate is different and every family has its own particular circumstances and requirements. The new provisions in respect of nil rate bands are going to be helpful in many cases but it is dangerous to assume that they will cover every situation.

Planning for IHT can be complex and can require much advance planning. Please get in touch with us if you would like to talk about any IHT planning concerns that you might have.