Cameron's inheritance causes wills and probate outcry

Inheritance received by David Cameron has provoked media interest, as the prime minister's receipt from his father was just below the threshold of 40 per cent death duties imposed on estates of more than £325,000.

A number of newspapers have noted retired stockbroker Ian Cameron left assets worth just less than £300,000, after gifting the family home - worth £2.5 million - to his oldest son Alex.

Wills and probate lawyers may be familiar with methods of reducing the burden of inheritance tax, with some individuals choosing to give away their wealth before death in order to minimise state levies.

Trust wills could also help in such a situation, as the deceased man passed a west London property worth £1.2 million to daughters Tania and Clare using a similar method.

A recent report the Institute for Public Policy Research called for the scrapping of inheritance tax in favour of a more modern system, saying the traditional charge is subject to "declining revenues and public hostility".

Published by Tessa Norman