When someone dies, two clocks start: probate and IHT. The tax is usually due by the end of the sixth month after death, and interest applies after that, often before probate completes. If much of the estate is tied up in property or other illiquid assets, raising cash fast can be stressful and disruptive.

A practical solution is life insurance structured for IHT: it doesn’t reduce the tax due, but it can provide the lump sum to pay it, so your family doesn’t need to sell a home, a long-term investment, or a sentimental asset at the worst possible moment.

From 6 April 2027, most unused pension funds and death benefits will be brought into scope of Inheritance Tax (IHT) and counted in the estate on death. The government has also confirmed that death-in-service benefits will be excluded, and that personal representatives (executors), not pension scheme administrators, will handle any IHT reporting and payment on pension death benefits.

I’m having lots of conversations right now about gifting. Parents and grandparents want to help with the cost of living, school fees, or that first-home deposit, and they also want to keep an eye on inheritance tax (IHT). It’s a balancing act: support the family while they need it, without putting your own future at risk.

As the UK faces the biggest intergenerational wealth transfer in history, many high-net-worth families are asking the same question:

“How can we pass down wealth without paying unnecessary Inheritance Tax?”

If you live in Altrincham, you’ll know it’s more than just a postcode — it’s a thriving, leafy hub of family life, independent business, and ambition. From the excellent schools to the buzzing food and drink scene, Altrincham continues to attract professionals and entrepreneurs who are thinking seriously about their financial future.

With an estimated £5.5 trillion set to be transferred to younger generations in the UK by 2050, planning for this transition is crucial.