Stephen Lowe, a group communications director at Just Group, shared how people can save on their inheritance tax bill.
Mr Lowe explained: “High quality financial planning can help mitigate against future Inheritance Tax charges, even for those leaving more modest sums.
“Where estates are valued at less than £1million, the bulk of the value is held in residential property and cash.
“One simple mechanism for reducing inheritance tax is to gift money that will not be needed in the years before death, which also brings the non-financial benefit of seeing loved ones enjoy that money and put it to good use.”
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