As a British citizen living or working abroad, understanding the nuances of trust law and its implications on your financial planning is crucial. Two common types of trusts that often come into consideration are Discretionary Trusts and Bare Trusts.

With the death of Queen Elizabeth II we saw that a smooth succession takes planning.

A long life well lived can be enhanced by a smooth succession, by not leaving your family with issues when its your time.

Your inevitable death is be a hardest thing to face in life.

But in a lifetime of financial planning, and in over 20 years of providing expat services, I know that it is one of the most important subjects to face head on.

Inheritance rights pass through the bloodline automatically.

That means if there is no will, it passes to the bloodline.

Capital gains tax (CGT) is due when you sell an asset such as a property, shares or cryptocurrency. However, if you die then CGT becomes inheritance tax which means that your family will pay up to 40% tax.

By taking the right steps and planning ahead you can reduce this liability all the way to 0%.

We’ll be looking at how making a will can help you avoid inheritance tax.