The IWC Glossary

Immediate Post Death Interest Trust

A Life Interest trust added to a will usually for the benefit of a spouse to aid in Inheritance Tax Planning

Independent Financial Advisor

An Independent Financial Advisor is a person qualified to advise you with regards to financial planning who is able to offer a variety of investments products

Inheritance Act

The Inheritance Act 1975 provides financial safeguards for spouses, children or other family dependants where a deceased person left them with insufficient funds

Inheritance Tax

Inheritance Tax is applied on estates over the nil rate band unless exemptions apply

Inheritance Tax Planning

Many believe that inheritance tax is an unfair tax as such they take steps to avoid the tax, this would be inheritance tax palnning

Inquest

If the result of the post mortem are not clear an Inquest will be held.

Insolvent Estate

An insolvent estate is one where the debts owed by the person that passed away exceed the net value of the assets

Interim Death Certificate

If a cause of death has not been established a Coroner will issue an Interim Death Certificate

Intestacy

If you pass away without making a Will the Intestacy Rules will apply

Intestacy Rules

The Intestacy Rules are rules that successive governments have implemented to distribute your estate if you do not make a will