Bluebond Inheritance Tax Planning FAQs for single, divorced or widowed people

Please use the links below to access the FAQs page for each topic.

How inheritance tax works

2

What is Inheritance tax planning?

1

How Inheritance tax works

2

How is UK inheritance tax calculated?

2

How does the 7-year rule work?

2

How does the Nil Rate Band allowance work?

2

What is a Potentially Exempt Transfer or PET?

2

What is Taper relief?

2

My spouse died 10 years ago what is my allowance for inheritance tax?

2

Does inheritance tax apply to non-UK assets?

2

Is the value of my business liable for Inheritance tax?

2

When is inheritance tax paid?

2

Can payment of Inheritance tax be deferred?

2

Why might my grandchildren pay 64% inheritance tax instead of 40%?

Solutions to Inheritance tax

3

Generic IHT planning overview

3

Emergency Fund

2

Why you only need to keep £50K in cash

3

How should you hold your cash

3

Should our bank account be in single or joint names?

3

Using your £3000 a year annual exemption

2

How to save inheritance tax on your main residence

2

What gifts can I make to reduce my Inheritance tax?

2

Using Gifts out of normal income

3

How can you give money to your children without breaking the 7 year IHT rule

3

Business Relief to avoid Inheritance Tax

Questions on Trusts

2

What is a Chargeable Lifetime Transfer or CLT?

2

What is the Rysaffe principle and how does it help me?

3

What is a loan trust and how is it used?

3

What are the tax implications of transferring property assets into a trust

Flexible Reversionary Trusts

1

Why Flexible Reversionary Trusts are useful for IHT planning

2

Why a second FRT is useful for IHT planning

3

Why is a Flexible reversionary trust so useful for inheritance tax?

4

What is a Flexible reversionary trust and how does it work?

5

A trust to suit everyone

Life Insurance

1

Two types of JLSD WOL life insurance compared

2

Is life insurance an expensive means of avoiding Inheritance tax?

3

I have an existing life insurance policy how is this taken into account?

4

What types of life insurance are used to pay any Inheritance tax due?

5

Explain why you say Standard whole of life is not a cost?

6

Is a whole of life insurance better than a term insurance for IHT planning?

7

What if my poor health means life insurance is too expensive to cover my inheritance tax?

8

What types of life insurance do Bluebond recommend for Inheritance tax planning?

9

What is the problem with a free trust supplied by an insurance company

10

How much life insurance do I need?

11

Why you need two insurance policies instead of one

12

What mistakes are made when insurance is used to pay inheritance tax

Pension

1

Pensions and Inheritance tax

2

My pension is already in trust - Why should I set up another trust?

Inheritance tax for UK Non domiciles

1

How does an excluded property trust save tax for UK non-domiciles

2

What are the issues around holding offshore property in an excluded property trust

3

What are the benefits of an Excluded Property Trust

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