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    • lexington013
    • By lexington013 9th Jun 17, 1:16 PM
    • 247Posts
    • 335Thanks
    IHT - widow
    • #1
    • 9th Jun 17, 1:16 PM
    IHT - widow 9th Jun 17 at 1:16 PM
    Hi, my mum was left as sole named person in my fathers will.
    I understand that we need to get the property now valued for IHT purposes.
    I'm not sure on the nil rate band situation.
    Both mum and Dad are named on the deeds of the house (no mortgage).
    The house is worth about £360,000.
    Dad left savings to mum of about £16000.
    Is mums band now £325000 and anything above that tax is due?
    My sister and I have been busy working through funeral arrangements, pensions, probate etc and supporting mum with this.
    She is 80 years old.
    Thanks in advance.
Page 1
    • Crabapple
    • By Crabapple 9th Jun 17, 1:19 PM
    • 1,570 Posts
    • 7,133 Thanks
    • #2
    • 9th Jun 17, 1:19 PM
    • #2
    • 9th Jun 17, 1:19 PM
    No IHT. Everything passing between spouses is exempt.
    Daughter born January 2012 Son born February 2014

    Slimming World ~ trying to get back on the wagon...
    • Mojisola
    • By Mojisola 9th Jun 17, 1:24 PM
    • 28,913 Posts
    • 73,821 Thanks
    • #3
    • 9th Jun 17, 1:24 PM
    • #3
    • 9th Jun 17, 1:24 PM
    And if everything is left to your Mum, when your she dies, the IHT allowance on her estate will be £650,000.
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