Whilst the inheritance tax liability has been relieved slightly through the introduction of a transferable tax free allowance to the surviving spouse, many people will still be caught with total assets over the joint tax free threshold.

With the priority focus being on making sure that your needs are met, both now and in the future, there are a number of legitimate methods that you can utilise that will help minimise the potential inheritance tax bill that your beneficiaries may have to pay.

These can be simple or complex depending on what your circumstances are and can include not tying up any of your wealth or allowing beneficiaries access to the assets before they are ready to handle them properly.