Have You Secured Your Generational Wealth?
Here’s a tax fact that may make you more than a little angry.
Your children, even your grandchildren, may have to pay tax on money that you’ve already paid tax on.
The tax is called Generational Inheritance Tax.
It’s a crafty Inland Revenue scheme that allows the tax man to tax your money for generation after generation.
If you and your partner have traditional mirror wills, then your money is under threat.
The first to die leaves everything to the other, before passing absolutely to your children Inheritance tax is due and your children must pay it.
Whilst you may not agree with the 40% tax, you can accept that it’s just the way it is and move on.
That’s life!
Ray Best
Like his academic development, writing came late to Ray. He has written several published works, “Inheritance Tax Planning – My Way” and “Shareholder Protection & Partnership Protection” and has had four feature articles published in Tax Adviser magazine, but the publication he is most noted for is the joint collaboration with Tony Granger “Inheritance Tax Simplified”.
