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The third claim is that people can put their property in a trust and protect it from inheritance tax entirely. That is flat-out wrong. The fourth claim is that people can gift their home to their children, stay living in it and they will pay zero inheritance tax. Again, that is flat-out wrong. If people continue to live in a property after gifting it, which is precisely what most would do, inheritance tax is charged as if the gift has never been made. The seven-year clock, which people may be aware of, never even starts.