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In the last budget, Alistair Darling announced that the threshold over which Inheritance Tax is paid (the Nil Rate Band) is to be frozen for another 4 years.

The current nil rate band is £325,000 and you pay 40% tax on anything above this threshold.

If the Conservatives are elected, they have pledged that they would abandon Labour’s proposals and raise the IHT threshold to £1m but somehow I don’t think that is likely.

Even though each person is now allowed to use their spouse/civil partners unused allowance (giving married couples a joint threshold of £650,000), it is still estimated that another half a million people will find themselves now liable for Inheritance Tax.

How many times have you thought ‘Where did that week, month, year go?’ We all feel the effects of time passing by. However old we get though, we never seem to fully grasp the speed at which our life is ‘happening’.

And yet so many of the things we want to do in our life are listed inside our minds to-do list with the words ONE DAY at the end of each one.

My five year old thinks it’s crazy that she is STILL five. It feels like an eternity to her. I suppose when you are five, one year is a very long time, a huge part of your overall life. Makes sense then that to us grown ups a year is not very long at all. It’s a small proportion of our overall lives and hence goes by faster – or so it feels. Maybe as we get older, each year goes by faster and faster and faster. What a scary thought!