IHT and income shortfall question
I have a case with someone with assets over the £2m IHT threshold (mainly property) but currently has an income shortfall of £5k p.a. but £200k sat in cash accounts.
They have an existing Onshore Bond with an initial investment of £300,000 which has been running for 10 years and they have made no withdrawals.
Would you ;
a) Set up a DGT with the £200k which provides the income shortfall and address a little IHT
b) Take withdrawals from the existing Bond to address the shortfall an invest the £200k in a Unit Trust
I'm a bit inexperienced and unsure what the best advice is here?
Hope this makes sense and thanks in advance.