Minimising inheritance tax could support private wealth management

Private wealth management could be boosted by life insurance, as one expert notes this can help individuals minimise inheritance tax.

The Daily Mirror reports such policies can be written into a trust, meaning private wealth will go directly to beneficiaries, thereby avoiding death duties and probate.

An assessment of liability will support private wealth management in this instance, allowing individuals to take out a plan based on the value of their estate, as well as any holdings such as offshore private bank accounts.

A recent article in the Daily Telegraph revealed assets could be subject to unexpected taxes upon the death of their owner, as possessing expensive property - such as a house in the Home Counties - could change the liabilities of an estate.

However, private wealth management companies can help people with such issues, as they will have knowledge of investment vehicles and finance products that might minimise such expenses.  ADNFCR-2318-ID-800230230-ADNFCR