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LATEST NEWS & EVENTS Inheritance tax planning 'still vital'  It is still crucial for people to engage in inheritance tax planning if they wish to minimise the burden of the duty, it has been noted. According to John Grundy, there are "pitfalls and traps" when it comes to making such preparations, Money Marketing reports. He suggested that wills must be drafted carefully if people are to leave the maximum amount possible to friends and family. In advice specifically aimed at couples who cohabit but are not married, the expert remarked: "To avoid paying inheritance tax when the first partner dies and then again on the second death, one would need to set up a will with a discretionary fund on the first death." As a result of some of the rule changes that have been brought in, the need for a full and in-depth analysis of people's individual financial circumstances is vital, Mr Grundy added. Meanwhile, speaking to the North West Evening Mail recently, Alec Moore from the Royal National Lifeboat Institution urged people to consider making a donation to the charity in their wills. 
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