Inheritance Tax Planning fit for a Duke

The Duke of Westminster was often described as the richest man in Britain with extensive property assets including the family estate near Chester.  Yet, recently published Probate records show his estate paid a fraction of the Inheritance Tax expected, largely due to tax exempt family trusts.

Clever (and legal) estate planning via family trusts has long been the preserve of the aristocracy, with one law for the rich and another law for the rest of us. But, did you know your personal pension could be converted to your own family trust?

As well as being able to draw what you want when you want it, a modern pension plan can help you control how your pension is inherited. Careful wealth management can allow generation after generation of your family to retain your wealth without paying Inheritance Tax. And your pension does not pay Income Tax or Capital Gains Tax either.

Sadly, many older pensions do not offer this flexibility and many will miss out on this financial planning opportunity. That’s why the time for a pension review is now, especially with Independent Financial Advice from the best Chartered Financial Planners in Chester.

If you want to learn how to plan your tax just like the landed gentry, give the Chester pension experts at Innes Reid a call on 01244 347583.

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