Plan ahead and save your family from the 'voluntary tax'. As property prices have risen, so has the likelihood that the value of your estate will exceed the Inheritance Tax (IHT) threshold. IHT is in effect a voluntary tax, in that you can take measures to reduce your liability, in some cases to nil, and so pass on your money and property to your family or friends after your death, rather than letting it go to HM Treasury. This book has been written by Hugh Williams - award-winning Chartered Accountant and bestselling author of "Lawpack's 'Tax Answers at Glance'" - in association with IHT specialists Christchurch Consultancy. It explains what steps and measures you can take to reduce your IHT liability. This guide covers: an outline of IHT; working out the value of your estatel; planning your Will; calculating the size of your IHT bill; assets that attract relief; ways to reduce your IHT bill; trusts and their uses; traps to be aware of; what to do with certain types of asset; putting an IHT mitigation exercise into effect; and, how life assurance can help reduce the impact of IHT.