Sir Terry Wogan leaves £1 MILLION to his family - did he avoid hefty inheritance tax bill?
SIR TERRY WOGAN left £1 million to his family in his will following his death from cancer last year.
The broadcasting legend, who died aged 77 on January 31, left a net estate worth of £1,047,576 to his wife Lady Wogan and three children.
Sir Terry was thought to be worth around £20 million before he died, suggesting he made moves to spare his loved ones a hefty inheritance tax bill by dividing his assets.
His will details were made public earlier this week at the district registry in Winchester, Hampshire.
The figure mentioned does not include assets he may have transferred to family members or to a trust before his demise.
Terry Wogan may well have taken advice early on in his career
Solicitor Elizabeth Young told MailOnline: "He may well have taken advice early on in his career when it first because clear that his estate would face an inheritance tax liability, and embarked on a range of tax planning steps to ensure his estate fell below the taxable limits.
"This might have included placing assets in Helen’s name, or transferring assets to his children or grandchildren, or placing assets for their benefit in to a range of possible trusts."
Sir Terry was reported to be the highest paid BBC radio presenter at one time in his career with an £800,000 a year salary.
Children In Need pay tribute to Sir Terry Wogan
As well as his long-running Radio 2 breakfast show, he was also known for his chat shows, Children In Need and his Eurovision Song Contest commentary.
In September last year the biggest names in broadcasting paid tribute to him at a packed service at Westminster Abbey.
Sir Terry's will is one of 41 million wills stored and digitised by Iron Mountain on behalf of HMCTS.