A guide to inheritance tax planning | RBC Brewin Dolphin

As we grow older, planning how we leave our assets to our loved ones becomes more important. It’s a sensitive topic, but one that cannot be avoided. This is where inheritance tax planning comes in. The team at RBC Brewin Dolphin have put together a guide to help you understand the basics of inheritance tax planning.

Firstly, it’s important to understand the basics of inheritance tax. Inheritance tax is a tax on the estate (property, money, and possessions) of someone who has died. It’s usually paid out of the assets left by the deceased. The guide goes on to explain what can be included in your estate and what can be exempt from inheritance tax.

Next up, the guide goes into more detail about the different ways inheritance tax can be reduced. For instance, gifting assets to family members or loved ones, setting up trusts, and investing in assets that qualify for relief from inheritance tax.

The guide doesn’t stop there - it also offers advice on how to create an inheritance tax plan. It suggests creating a will, getting professional advice, and regularly reviewing your plan to make sure it’s still relevant.

Overall, the RBC Brewin Dolphin inheritance tax planning guide is a great starting point for anyone who wants to navigate the complex world of inheritance tax. It’s written in clear and concise language and breaks down a complicated topic into easy-to-digest pieces of information. Remember, it’s never too early to start planning for the future!