Although none of us want to consider our mortality, it can be deeply reassuring knowing that we’re passing on the best possible legacy to our children, and our grandchildren. The problem is that if we have accumulated a good amount of money, we might actually pass on an inheritance tax liability too; the value of the inheritance will be added onto our children’s estate. You can remove this burden from their shoulders by setting up one or more pilot trusts. These are discretionary trusts with provisions to allow your children to borrow from them. It won’t diminish your liability, but it will help your grandchildren!