There are many ways to reduce the tax payable, but most of these should be put into place before you die.
Gifting is one option, but there are ways to gift and yet keep control of that investment.
Investing into inheritance tax friendly investments is another option - especially the older you get.
Please ask us for more information.
April 2017 tax changes
If you leave property that you have lived in to your children or grandchildren, then you may also be able to claim a new allowance of £175,000 on top of your personal inheritance tax allowance. This allowance started in April 2017. The allowance is however subject to a few conditions, so please contact us to see if you can claim this new but important allowance.