B P Collins Solicitors: talk to the experts
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There are a number of options available to people planning for inheritance tax (IHT), according to one expert.
Gary Festa, director of wealth management firm HFM Columbus, said the financial landscape is changing "dramatically" and is expected to have an impact upon everyone.
However, a survey by the firm found the majority of people were not aware of what IHT means and consider the tax to be "death duties".
"No-one names the taxman as a beneficiary on their will and of course everyone is concerned about that happening, but rules affecting IHT have changed considerably in recent years," Mr Festa commented.
There are now a "wider range of options" that may be of benefit to everyone, "regardless of the size of their assets", the expert noted.
Earlier this month, the Conservative party pledged to raise the IHT threshold for married couples if it was to come to power.
The party said the threshold could be raised to £2 million.
