Beginners' guide to Inheritance Tax Planning

What could happen if you don’t write a will

The government lays down strict guidelines on how money is to be paid out if you die without making a will. These could mean that a long-term unmarried partner ends up receiving nothing and the Crown gets all your estate.

IHT can be complicated and no one likes to think about their own mortality, so it is a subject that is easy to avoid. But a little financial planning now can mean that your family and friends get your money when you die, not the Chancellor.