It is reported today that maverick socialist Tony Benn’s £5m estate will probably avoid Inheritance Tax. The reason appears to be because it was placed in Trust after the death of his late wife. Tax experts say it is likely a ‘deed of variation’ was utilised to transfer part of the property into Trust after her death.
This indicates the vital use of estate planning with Asset Protection and Property Protection Trusts in Wills .
Lifetime Property Protection Trusts can also be used to achieve exactly the savings described in the report produced today.