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How best to financially future-proof your children

Parents should think carefully before setting up trusts for their minor children.

If they do, funds going in, over the nil rate of £325,000, are charged to inheritance tax at half the current rate of inheritance tax on death - currently 20 per cent. To read more about what is on offer to parents hoping to best prepare their children for the road ahead, head to Spear's Wealth Management Magazine.

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