Can't I just gift my assets or cash away?
While making a gift from your estate may sound simple, you must seek professional advice in order to ensure that it has a positive impact on your inheritance tax liabilities. An IHT liability is measured on various factors, such as how long ago the gift was made, who it was made to and for what reason. You need to ensure that you have managed your money and estate correctly. It is important to understand that by making a gift, you are no longer entitled to benefit from that particular asset.