With inheritance tax limits frozen until 2028, growing property values are causing an increase in taxable estates. As a result, families are looking for ways to reduce IHT liabilities. One viable technique is to use trusts, which can be aided by platforms such as nope.tax.

Trusts have various advantages for inheritance tax planning. They can assist protect assets from creditors, control how and when recipients get inheritances, and possibly lower the taxable estate. For example, a bare trust, in which beneficiaries have direct access to assets, can be advantageous for transferring wealth to children while reducing tax consequences. Furthermore, trusts can provide long-term financial planning benefits by guaranteeing that assets are managed and dispersed in accordance with the grantor’s preferences even after they die. With this level of control and protection, trusts are an effective instrument for decreasing inheritance tax payments.

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