Super-rich families are reportedly employing a technique to transfer wealth to heirs while still maintaining control over it, with the aim of reducing their inheritance tax (IHT) obligations. This approach is distinct from more common strategies for IHT reduction, which typically involve either spending the money or gifting it during one's lifetime so it is not subject to tax upon death.
Wealth transfer techniques explored to reduce inheritance tax
UKPulse Money DeskSuper-rich families are reportedly using a specific technique to pass on wealth while retaining control and cutting their inheritance tax bill.
- Super-rich families are using a technique to transfer wealth while maintaining control.
- This technique aims to reduce potential inheritance tax bills.
- Common inheritance tax solutions include spending or gifting money during one's lifetime.