FACT THREE:

Any money you leave to your spouse is ignored for inheritance tax purposes, with similar generosity now extended to those who have signed civil partnerships. But while this can seem like a great way to save tax the experts do advise caution.



If you leave all your assets to your wife then no inheritance tax bill will be payable, for example. But on her death the tax bill can be eye-watering as she will be the sole owner of all your assets. Tax advisers recommend spreading some money to others so the second spouse or partner doesn’t trigger such a large bill.