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IHT information for IFAs

Scottish Mutual International has produced an IFA information pack explaining the basics of inheritance tax and highlighting the importance of estate planning.

The company says IFAs have a vital role to play in offsetting their clients&#39 potential IHT liabilities.

SMI says the Treasury takes in £2.3bn a year through IHT and much of that amount could be avoided through careful estate planning.

The guide explains that although estate planning&#39s primary motive is IHT mitigation, there are other benefits such as reducing admin costs after death, avoiding disputes and ensuring that assets pass to the intended beneficiaries.

The guide is part of a wider estate planning campaign by SMI which will run through the first quarter of the year using direct mail, press advertising and email.

As part of the campaign, SMI is pushing its inheritance plan – a single-premium whole-of-life bond written under a flexible trust that provides a guaranteed minimum death benefit to the investor&#39s chosen beneficiaries.

Marketing director Harry Taylor says: “It is becoming increasingly important for independent advisers to add-ress their clients&#39 estate planning needs in a world where more and more people, who do not regard themselves as rich, are being propelled into the IHT bracket without knowing it is due to increasing property prices.”


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