We came across another story regarding inheritance tax (IHT) the other day – part of the ongoing saga of reforms that have been in the news the past few years. It has been reported that the Conservative party have made claims that they will change the laws surrounding IHT ahead of the general election in May, the Society of Trust and Estate Practitioners (STEP) has reported. Chancellor George Osborne has stated that IHT should only be paid by the rich and the thresholds for paying IHT will therefore be raised.

Many of you may have come across this story in the national newspapers recently, but we thought we'd discuss the case ourselves as we found the details of it so astounding. According to The Telegraph, Trudy Collins, 44, has admitted to accessing and spending around £20,000 of her daughter's inheritance, bequeathed to her by her late father.