Large estates need to be looked at with great care as the practical approach may involve giving assets away while alive, be it to friends, family or charities, and will usually involve some form of Trust planning.
However, in disposing of assets by gift, there may be immediate Capital Gains Tax implications. Also, Trusts need to be treated with more care than most people think (use the wrong trust, and its internal tax rate may cancel out any apparent Inheritance Tax savings). Advice and planning is essential.
Estate, tax and trust planning is not regulated by the Financial Conduct Authority.
Tax treatment is based on individual circumstances and may be subject to change in the future.