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Before ... Married couple aged 76 and 75, both enjoying relatively good health. Four children. Own a mortgage-free house in Cyprus value £300,000. Cash and investments totalling c£750,000. Underperforming investment portfolio of UK government bonds and UK shares. Have carried out no planning for UK Inheritance Tax ("IHT"). Do not wish to lose control of their capital under any circumstances, but wish to address the IHT issue if possible. After ... This couple are able and willing to live comfortably to live on their pensions and accumulated capital. They do not need the income from their investments. The investment portfolio is now rebalanced to avoid over-dependence on the UK and to provide improved performance. Most of the government bonds are retained as this was a strong personal preference.The new portfolio is placed within a trust which allows the couple full access to their capital at any time - they elected to draw £20,000 p.a. - but which places all growth from the investments outwith their estate for IHT purposes. Potential saving to their successors if at least one of the couple lives for 10 years, and assuming a growth rate of 6% p.a., is more than £150,000. |
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