Protection and later-life planning go hand-in-hand

There are so many different ways that individuals can reduce their IHT liability including gifting assets, effective use of trusts or property allowances.

However, using gift inter-vivos or whole-of-life insurance policies can ensure that, with the right advice, if the worst were to happen, then every penny of inheritance tax could be paid from the proceeds of your life insurance policy.

Oliver Rayner is managing director at life insurance broker Caspian Insurance