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Prepare your portfolio for inheritance

How to invest if you're in later life
Prepare your portfolio for inheritance

Key Characteristics:

  • Thinking about inheritance planning
  • Large pension pots 

Towards the end of your life, if there is still plenty of money in your retirement portfolio, you’ll be thinking about how best to pass it on to your loved ones and mitigate inheritance tax (IHT) as much as possible.

This is primarily a financial planning issue – you’ll want to take advantage of your own and your spouse's IHT allowances, make use of potentially exempt transfers (PETs) and gifts where appropriate – and there are even ways to leave money to charity; a win-win situation whereby you can help good causes and lower the net amount from your estate that doesn’t go to loved ones. Remember though, tax planning is complex and personal, so you should seek professional advice.

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