PLANNING SCENARIOS
Building deeper connections with your clients
Shaped with input from advisers, our client scenarios are a great starting point for discussions with your clients.
HOW BUSINESS RELIEF CAN HELP
The Scenario
Inheritance tax planning for clients who want to retain access and control
Jessica’s £1.5 million estate will benefit from both hers and her late husband’s full IHT allowances. But with £500,000 of her estate taxable at 40%, her estate still has a potential £200,000 IHT bill. Her adviser explains that Business Relief could be used to help ensure the rest of her estate stays IHT free.
The Scenario
Inheritance tax planning for clients with Power of Attorney
Before losing capacity, Mariam appointed her son Finn to make financial decisions on her behalf. However, this means he’s unable to carry out any trust planning or make significant gifts that would involve giving her assets away. Finn’s adviser explains that using Business Relief means keeping Mariam’s wealth in her own name.
The Scenario
Inheritance tax planning for clients with limited life expectancy
Martha has an estate worth £1.8 million, with £800,000 exposed to IHT and a potential IHT bill of £320,000. She’s reluctant to make further gifts that could be included in her taxable estate if she dies within seven years. Her adviser explains how Business Relief can reduce the time needed for IHT exemption to just two years.
The Scenario
Ensuring full IHT exemption after the death of the surviving spouse
Sarah and Jane have two children from previous marriages. Both in their 90s, life insurance is too expensive and they may not survive the full seven years for gifts to become IHT-exempt. Their adviser explains how Business Relief could help them leave as much wealth as possible.
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Estate planning scenarios at a glance
Thinking about estate planning ideas to discuss with your client bank? Our menu gives you instant access to view and download all our estate planning client scenarios in one convenient document.
How can we help?
Next steps
Wherever you are in the process, we’re here to help you take the next step with confidence.
