The combination of a life assurance policy and an annuity on the same life, the purpose of which is to reduce inheritance tax. The annuitant seeks to more than replace capital expended for the annuity by paying premiums on a life policy, the proceeds of which pass to his/her dependants on death and outside the estate.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 29th March, 2024.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
- Page URL:https://dlssolicitors.com/define/back-to-back-inheritance-tax-plan/
- Modern Language Association (MLA):Back-To-Back Inheritance Tax Plan. dlssolicitors.com. DLS Solicitors. April 20, 2024 https://dlssolicitors.com/define/back-to-back-inheritance-tax-plan/.
- Chicago Manual of Style (CMS):Back-To-Back Inheritance Tax Plan. dlssolicitors.com. DLS Solicitors. https://dlssolicitors.com/define/back-to-back-inheritance-tax-plan/ (accessed: April 20, 2024).
- American Psychological Association (APA):Back-To-Back Inheritance Tax Plan. dlssolicitors.com. Retrieved April 20, 2024, from dlssolicitors.com website: https://dlssolicitors.com/define/back-to-back-inheritance-tax-plan/