So good morning, Edward, and over to you.

Hi everyone.

Thank you for coming to this Q&A again this month.

It's good to answer your questions as always.

I hope everyone's been keeping well.

I hope everyone's ready for the storm that's going to come this weekend.

I'm sure we're seeing a little bit of it today.

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Can lifetime gifts help reduce inheritance tax on my death?

Yeah.

So lifetime gifting, it can be a useful way to reduce inheritance tax, but you need to understand the rules carefully just to make sure that you are doing everything by the book.

So it is particularly worth considering if it looks like your estate is likely to be taxable on your death for inheritance tax purposes.

So if you think that, you know, your estate is actually not worth as much as you might think, and it is not going to be taxable, then this answer might not be as useful for you.

But if you have got an estate whereby your inheritance tax reliefs are not enough to stop the estate from being taxable, then this is something to look into.

So lifetime gifting is good for reducing any inheritance tax on death because giving away assets during your lifetime can reduce the value of your estate.

What is a lasting power of attorney?