A recent case reminded us why we cast our reading and learning net wide, including titles like the Inheritance Tax Planning Handbook. This was a complex case that we were working on alongside an adviser and solicitor. It involved an Immediate Post Death Interest Trust (IPDI) created in the will of the clients’ second husband and we had to be sure about the transferability of the nil rate band and residential nil rate band that her executors could claim on her death. Alongside the handbook, we also used Lexis Nexis taxation site and My Care Consultant to inform our thinking.
The Law Society’s Inheritance Tax Planning Handbook may not be on every paraplanner’s reading list. We’re not suggesting it should be but we do think it’s important paraplanners can draw on sources of information and knowledge that extend beyond the industry standard qualifications and exams. This is just one example of the opportunities out there (and that we look for) to cast your knowledge net wider to enrich your knowledge.