How to duck death taxes

Your estate might be rather smaller than the Duke of Westminster's, but there are ways you can reduce your inheritance tax bill too. David Prosser explains.

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You too can plan your estate like a duke

Careful planning probably saved the Grosvenor family £3bn in inheritance tax (IHT) when the Duke of Westminster died last month. Most of the family's assets are held in trust, which allow them to pass between generations without being subject to IHT. There is nothing to stop other people using the same approach but the rules are no longer so forgiving as when the Grosvenor trusts were set up.

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David Prosser
Business Columnist

David Prosser is a regular MoneyWeek columnist, writing on small business and entrepreneurship, as well as pensions and other forms of tax-efficient savings and investments. David has been a financial journalist for almost 30 years, specialising initially in personal finance, and then in broader business coverage. He has worked for national newspaper groups including The Financial Times, The Guardian and Observer, Express Newspapers and, most recently, The Independent, where he served for more than three years as business editor.