Friends Provident has unveiled a new trust to help families mitigate their Inheritance Tax (IHT) liability.
Friends Provident has unveiled a new trust to help families mitigate their Inheritance Tax (IHT) liability.
The lifetime nil rate band trust is available to married couples and will be open to registered civil partners when the Civil Partnerships bill passes into law in December 2005.
Friends Provident has revealed that the new trust could potentially enable a family to make an overall tax saving of up to £110,000.
This is possible since the trust allows couples to make a planning arrangement so they can avoid wasting the nil rate band when the first partner dies.
The trust also promises to reduce the impact of IHT on second death.
