Where there's a will there's a way to head off probate problems

As Chancellor Rachel Reeves lines up a second assault on family inheritances in her upcoming Budget experts warn families are already making a simple mistake that could land them with higher tax bills today.

- 

Last year, Reeves announced that unused direct contribution pension pots could be subject to inheritance tax (IHT) on death. Some families could face effective tax rates of up to 67%, as income tax is added on top when beneficiaries withdraw money.

Rumours suggest Reeves may go further, extending the seven-year rule on IHT-free gifting to 10 or 12 years, introducing a lifetime cap on gifts, or limiting the rule that allows families to make regular gifts from surplus income.