Paul is 63 and his wife is 65, and they are both retired. They receive indexed-linked pensions of £25,000 a year plus £5,000 a year from his self-invested personal pension (Sipp), and they both have equity-focused individual savings accounts (Isas). Although their estate is over the inheritance tax (IHT) threshold, they think that with the introduction of the family home allowance this should not be a major issue.
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