How to Transfer Wealth to Family Without Unnecessary Tax
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Handing down your wealth to family can feel complicated when you're worried about tax bills eating into what you've worked for. A smart approach often involves using annual gift exemptions, setting up trusts that let you control how assets are distributed, or making use of the spouse nil-rate band. Life insurance policies written into trust can also pass money tax-efficiently. The key is to plan early, so you can take advantage of allowances each year without triggering inheritance tax. Small,…