Sam Hart considers the position that even where we do not have the luxury of a seven-year swansong, there is often considerably more that can be done than people expect. The key is knowing what can be done, and when.
Unlike James Bond, most of us do not get to live twice, which also means we only get one shot at ensuring our estates are as IHT-efficient as we can make them.
Get married!
The first and most powerful tool available is one that costs nothing to implement and requires no complex structuring. Transfers between spouses and civil partners are entirely exempt from IHT, both during lifetime and on death. If there is any prospect of marriage or civil partnership with a long-term partner, it is worth raising with the family, however delicate the conversation. It is surprising how romantic a 100% IHT exemption can be! Crucially, the spouse
