Using life insurance to cover the inheritance tax tail for a high-net-worth client’s gifting strategy
The client had made multiple gifts totalling £20 million and was seeking to cover the inheritance tax (IHT) liability [...]
The client had made multiple gifts totalling £20 million and was seeking to cover the inheritance tax (IHT) liability [...]
The clients, a married couple in their 60s, had three children in their 20s The couple had a £3 [...]
A long-standing business owner with a high-risk property development business Business prepared for sale for a price in excess [...]
A man in his 70s and a woman in her 60s with a property worth £4 million. Their existing lifetime mortgage of £1.6 million had a relatively high interest rate of just above 7%, which meant that the amount owing was increasing rapidly. The couple were concerned about the loss of equity from their property.
A man in his 70s and a woman in her 60s with a property worth £4 million. Their existing lifetime mortgage of £1.6 million had a relatively high interest rate of just above 7%, which meant that the amount owing was increasing rapidly. The couple were concerned about the loss of equity from their property.
A man in his 70s and a woman in her 60s with a property worth £4 million. Their existing lifetime mortgage of £1.6 million had a relatively high interest rate of just above 7%, which meant that the amount owing was increasing rapidly. The couple were concerned about the loss of equity from their property.
A man in his 70s and a woman in her 60s with a property worth £4 million. Their existing lifetime mortgage of £1.6 million had a relatively high interest rate of just above 7%, which meant that the amount owing was increasing rapidly. The couple were concerned about the loss of equity from their property.
The client was a 42-year-old non-smoker who was resident in the UK and who was the director of a company. The client had bought out his business partner via an equity fund. The company’s board had decided that the individual needed to take out key person insurance to protect the business, as there could be significant consequences if he were to die unexpectedly or be incapacitated by illness.
The clients are a couple, with the husband in his 60s and the wife in her 40s. They are both UK residents and non-smokers. They were seeking to restructure the business they own jointly. The husband has health issues. The couple had lost their Business Property Relief qualification for a period of two years.
The clients were a couple, both in their 60s, who were British nationals and resident in the UK. The couple’s estate is valued at £10 million. Their individual nil rate bands of £325,000 each could not be used in this case, and they were therefore facing the prospect of inheritance tax of 40% being charged on the full amount once the second client died, which would mean a £4 million IHT bill for their nearest and dearest at that time.