Inheritance tax falls under the remit of estate planning. Estate planning is about passing on your assets effectively. Your Will itself is quite limited for inheritance tax planning although vital to ensure your estate ends up with the people you choose. A large part of effective estate planning is undertaken throughout your lifetime. This could include the use of trusts, gifts, annual allowances, life insurance and tax-efficient investments. Our guidance when planning for inheritance tax is very much bespoke to the individual following a detailed calculation of your estate value, type of assets owned, potential liability, age and goals.