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Scot Mut launches family trust to tackle inheritance tax

Scottish Mutual is launching a family trust that allows personal pension holders to cut their inheritance tax bills. The Spousal By-pass trust allows death penalties payable from personal pensions policies to be held for the benefit of the family member, whilst reducing the charges to inheritance tax.

Scottish Mutual taxation and trust specialist Neil MacGillivray says: “Ensuring that the maximum financial benefits pass to the family without exposure to IHT liability through a straightforward family trust makes financial sense to every high net worth individual whose spouse&#39s estate is in excess of the nil rate band.”

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