By failing to write life insurance polices in trusts, as much as £1billion could be subject to inheritance tax, unnecessarily.
The last available data, for 2003 - 2004 shows a total of £597 million in life insurance death claim payouts policies was liable for the tax.
Our view
Experts in the financial field claim that when someone takes out a life insurance policy, it is easy to set up a trust and it is something that is worth doing.
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