There is a great deal to be said for simplicity and flexibility in many financial transactions.
In no area is this truer than in IHT Planning.
The use of life cover is often overlooked but can have its place where the individual wishes to provide the means by which the IHT liability can be met.
The use of trusts can cause concern because ownership of the asset transfers away from the individual for the remainder of their lifetime to the trust.
However, where there are deemed to be sufficient assets, the use of a trust should be considered.
For the few, there is the option of using Business Property Relief to mitigate the IHT liability in 2 years.