Gerald and Jemima (age 73 and 72), asked PMN to review their Inheritance Tax (IHT) position.
Increasing house prices and strong investment returns had resulted in their estate creating a significant potential IHT liability.
Gerald and Jemima's overall objectives were:
- To minimise inheritance tax and maximise the inheritance of their three children.
- Ensure that they retain sufficient funds to maintain their lifetsyle.
- Consider the implications of the recently introduced 'Residential Nil Rate Band' (RNRB).
- Consider scope for making gifts to their children within their lifetimes.