2. Fact-finding: mapping the (trunk Testator; Branches = testator’s ‘Wealth & Family Tree’ – Asset Classes; leaves/fruit = assets & value (including potential growth); and roots = family & dependants), and working backwards from the IHT 400 an – ‘Estate Inventory’. 3. CLT, PET, & NRB analysis. 4. Preliminary IHT calculations. 5. IHT exemptions & reliefs analysis. 6. Assembly of records for future probate & number crunching by the accountant: client’s available annual exemption & cash gifts that qualify as normal expenditure out of income. 7. Isolate the problem: 7.1 what assets make up the rump chargeable estate?; and 7.2 what are they realistically worth now and in the future NB potential growth & hope – value? - get the facts and figures spot on for IHT valuation purposes before developing a plan. 8. Identify the planning constraints including e.g. family & commercial issues surrounding the – use, exploitation, and ultimate destination of capital assets. 9. My personal method - developing a commercial solution through logic & subtraction, i.e. enable the solution present itself. The big picture an – ‘Estate Inventory’ Please note that numerals in square brackets, e.g. [45], correspond with the box numbers on the form IHT 400. [TESTATOR ] DOB Residence DOMICILE ANALYSIS [6] ESTATE COMPONENT ANALYSIS Own assets Jointly-owned assets Inheritance Other FAMILY TREE & DEPENDENTS WILL STRUCTURE &
2. Fact-finding: mapping the testator’s ‘Wealth & Family Tree’ (trunk – Testator; Branches = Asset Classes; leaves/fruit = assets & value (including potential growth); and roots = family & dependants), and working backwards from the IHT 400 – an ‘Estate Inventory’. 3. CLT, PET, & NRB analysis. 4. Preliminary IHT calculations. 5. IHT exemptions & reliefs analysis. 6. Assembly of records for future probate & number crunching by the client’s accountant: available annual exemption & cash gifts that qualify as normal expenditure out of income. 7. Isolate the problem: 7.1 what assets make up the rump chargeable estate?; and 7.2 what are they realistically worth now and in the future – NB potential growth & hope value? - get the facts and figures spot on for IHT valuation purposes before developing a plan. 8. Identify the planning constraints – including e.g. family & commercial issues surrounding the use, exploitation, and ultimate destination of capital assets. 9. My personal method - developing a commercial solution through logic & subtraction, i.e. enable the solution present itself. The big picture – an ‘Estate Inventory’ Please note that numerals in square brackets, e.g. [45], correspond with the box numbers on the form IHT 400. [TESTATOR ] DOB Residence DOMICILE ANALYSIS [6] ESTATE COMPONENT ANALYSIS Own assets Jointly-owned assets Inheritance Other FAMILY TREE & DEPENDENTS WILL STRUCTURE &
Handout%20RAU%202014%20_1.docx