Hi all,
In a hypothetical world where my assets collectively were to amount to £3m in present value. £1.5m in pension, rest across other investments and properties.
If I wanted to do the best by my children, how can I ensure that they won’t have to pay huge sums of IHT?
I will live off of my pensions interest which will be sufficient for me.
Where do I look? What words do I need to search up online? What rabbit hole do I need to investigate more. I am not looking to pay for a financial planner as all knowledge should be available to all.
I am 25 years away from private pension retirement and this is modelled off of that, not state pension age. Obviously it’s hypothetical and I am piss poor but slowly and steadily working against the model.
Appreciate the insights. I utterly despise having to pay taxes on hard earned money, so any suggestions are welcome. I will obviously deploy basic methodologies such as gifting large chunks of stocks and share isa at 57 and pray that I am not dead within 7 years.
Thanks all
P.s. I don’t have children yet.