Alistair Cunningham, Charetered Financial Planner at Wingate Financial Planning: 'The first priority with inheritance tax planning is to address things which are nil or low cost, that don’t put people in a disadvantageous position. There is a lot of value in peace of mind that comes with inheritance tax planning, from the simplest things such as having a proper will in place'.
Les Cameron, Head of Technical at Prudential: 'While inheritance tax may only affect a certain amount of households, for those that do pay it the numbers are significant. The average estate paying inheritance tax pays over £100,000, which is why we talk about the value of advice'.
Tom Dean, Independent Financial Adviser at Plutus Wealth: 'Many people will feel inheritance tax planning is not appropriate, and do not make it a priority as they feel its too early - which is often not the case'.
Paul Fidell, Head of Business Development at Prudential: 'There are a large amount of people who underestimate the value of their assets, and believe inheritance tax doesn't apply to them. Someone who owns a semi-detached house on the outskirts of London may not see themselves as remotely wealthy, yet their estate could be over the inheritance tax threshold. Good advice is essential to inheritance tax planning'.