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Protectionhelp Legacy Planning

Inheritance Tax (IHT) Review

Understand any potential inheritance tax exposure — and practical ways to reduce or mitigate that exposure while keeping your wishes intact.

Ask us a question Process and Fees

This review is provided by Protectionhelp and does not use the services of APS Legal

What we look at

  • Your estate value and likely IHT position (nil‑rate band, RNRB, exemptions).
  • Existing gifts/PETs and how taper relief may apply.
  • How wills, trusts and protection can work together.

We’ll always explain options in plain English. Where regulated financial advice is required, we’ll refer you to a suitably authorised adviser within Pensionhelp Limited.

Whole of Life Planning

A Whole of Life policy guarantees a payout whenever the insured dies (premiums must be maintained). It’s commonly used to provide a lump sum aimed at meeting an expected IHT bill so beneficiaries aren’t forced to sell assets at the wrong time.

  • Premiums tailored to a target sum assured.
  • Often written into trust so proceeds fall outside the estate and can be paid quickly.
  • Fixed or reviewable premium options depending on provider.

Gift Protection (for PETs)

If you make lifetime gifts, they’re usually Potentially Exempt Transfers (PETs). If the donor dies within seven years, some or all of that gift may be chargeable. Gift Protection aims to cover that temporary exposure.

  • Sum assured typically reduces each year in line with taper relief.
  • Designed to match the diminishing risk period (up to 7 years).
  • Can be placed in trust for speed of payout.

Term Assurance (when a time‑bound need exists)

Term assurance pays a lump sum only if death occurs during a set term. It can support specific strategies where a defined time horizon exists (e.g., bridging to a later-stage plan).

If you would like to arrange a discussion with us please use the link below

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Trust options

Trusts can help control how and when funds are used, and — depending on structure — may reduce the value of your estate for IHT purposes.

  • Discretionary trusts – flexibility for trustees to decide who benefits and when.
  • Interest in possession trusts – a named person has the right to income (or use) for life; capital passes later.
  • Bare trusts – simple structure; assets belong to the beneficiary absolutely.
  • Protection trusts – commonly used with life policies so proceeds are paid outside the estate.

Trusts have legal and tax implications. We’ll explain the pros and cons and, if appropriate, prepare trust documents using APS Legal & Associates Ltd.

How an IHT review works

  1. Free initial chat to understand your goals and family situation.
  2. Gather information required to Provide advice
  3. We outline potential exposure, explain options and make recommendations in writing.
  4. We assist with completing forms and setting up protection plans
  5. Where wider advice is required (eg investment solutions), we’ll arrange an introduction to a regulated adviser at Pensionhelp Limited.

Information on this page is general in nature and not personal financial or tax advice. Tax rules can change and depend on your circumstances.