Unexpected events and circumstances can create an impact on your finances, Inheritance Tax (IHT) could be one of these circumstances that effect you. If your estate has an IHT liability, IHT must be paid prior to probate. IHT is payable on assets, like property for example and is paid before beneficiaries receive their legacy. New rules in April 2017 affect the residence nil-rate band (RNRB) and these could apply to you. Seeking professional financial advice could help you to understand the new rules further and to help plan for any future IHT impacts.
