Inheritance tax on property heavy estates

ouser

Hi there
I'm wondering what the best way is of mitigating inheritance tax on large estates where assets are heavily tied up in property. I've heard about things like discounted gift trusts; is that a common way of doing it?

What if the survivors won't have enough cash on hand because a lot of the estate is tied up in the house?

Thanks in advance. 

Jeremy535897

Such planning is complex, easy to get wrong, and needs expert professional advice. Where an estate is illiquid because of property, inheritance tax can be paid in instalments (interest bearing). See https://www.gov.uk/paying-inheritance-tax/yearly-instalments

ouser

Thanks very much. Any further thoughts?

Jeremy535897

Inheritance tax planning using houses occupied as main residences is not for the faint hearted. For some basic discussion by one firm see:
 https://www.clarkewillmott.com/blog/save-inheritance-tax-family-home/