Page 52 - Bespoke EPG 2017 Digital

Rebate for rapid succession
There is relief in the case of the same property being included in the estates of
spouses dying within 10 years of each other. The deduction is calculated on a
sliding scale varying from 100% where the spouses die within 2 years of each
other and 20% where the deaths are within 8 to 10 years of each other.
Valuing your estate: Making an estimate of estate duty liability
■■ The insert attached to the guide sets out a broad outline of the formula

for the estate planner to estimate the value of his estate for estate duty
purposes.
Life assurance for estate duty
■■ When ascertaining the liquidity requirements of an estate, the estate planner
must take into account estate duty liability.
■■ Life assurance to cover estate duty liability and thus meet liquidity needs
of the estate may be an option. The estate planner must reckon in to the
calculation the fact that estate duty will also normally be leviable on the
assurance proceeds themselves.
■■ Another strategy for spouses would be to take out joint assurance to cover
estate duty liability which pays out on the death of the last-dying spouse or
on simultaneous death.

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