Death duties poser

By THIS IS MONEY
Updated:

 

Do any insurance monies payable on death count towards the estate of the insured when calculating inheritance tax? SS, Ashford, Middlesex

Maurice Fitzpatrick of accountants Chantrey Vellacott DFK says: Yes, the money will count if it flows directly into the estate of the deceased. However, if the policy was written in trust for a beneficiary (typically a child) it does not count as part of the deceased's estate. The same is true if it was written in trust for the deceased's spouse.

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