Consumer Corner: Here's what you need to know about inheritance tax

Marc Westlake, managing director of Everlake, says that people often think that estate planning is only relevant towards the end of their life. However, a robust estate plan should start much earlier, when you can plan tax efficiently and when your beneficiaries are likely to need their inheritance.

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Inheritance tax is something that you may not want to consider, but advanced planning is wise. It’s tempting to put inheritance tax on the long finger, as you might a will. 

However, there are elements to inheritance tax that should be given consideration.