How to open conversations with clients about inheritance tax mitigation

Not all clients find it easy to plan for when they’re no longer alive, but by helping them consider steps like Powers of Attorney and some financial provision for their heirs, you can help them approach the topic in an appropriate way.

 

For your client, the process begins with a clear goal – to protect and pass on a financial legacy to their beneficiaries.

 

A good way to start the ball rolling is to ask your clients to complete a checklist made up of questions like:

 

  1. Do you want to leave a financial legacy for your family and friends?

  2. Are your total assets valued in excess of the current IHT threshold of £325,000 per person?

  3. When did you last assess your wealth in line with your present and future financial needs?

  4. Have you set up power of attorney for those you wish to handle your affairs if required?

  5. Do you know what is the best IHT mitigation approach for you?

 

For further support please see our guides for financial advisers.

 

 

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