Private wealth jeopardised as HMRC 'receives lion's share of inheritance'?

Private wealth may be at risk if steps are not taken to minimise the cost of inheritance tax, as one expert reveals on occasion, HMRC could receive more than will beneficiaries.

The Daily Telegraph reports in certain circumstances, such as when an individual owns an expensive property and has several children - more may be due in inheritance tax than is passed on to heirs.

Making a will could be the best way to protect private wealth, as this can allow the levy to be mitigated through giving assets away at least seven years before a person dies, or by drafting a trust will.

MSN Money recently revealed executors of wills are also important, as they can be instrumental in protecting belongings from death duties.

Those with private wealth hoping to avoid heavy taxation could consider offshore private banking services, as such funds can be subject to more lenient charges and may allow assets to appreciate more rapidly.  ADNFCR-2318-ID-800219495-ADNFCR