Early planning is imperative with regard to inheritance tax (IHT), according to a firm of independent financial advisers.

Calculis stated in recent days that people that were always going to face a large IHT bill, regardless of the recent changes made by chancellor of the exchequer Alistair Darling, will still need to make provision for the levy.

Alex Pegley, director for the firm, explained that consumers should put in place discretionary will trusts.

"That way you're actually controlling the assets from beyond the grave," he noted.

He stated that there are a number of effective trusts, such as loan trusts, which can be used to freeze the value of assets but stills allow access to the capital.

Mr Pegley concluded that consumers should be aiming to reduce the tax burden on a family and make things easy to wind up an estate following death.

On October 9th 2007, Mr Darling raised the tax-free IHT threshold to £600,000 for civil partners and spouses.