Inheritance Tax

ang01622

My father sadly passed away in June this year. I have been helping my mother, who is 89, with her finances. This has included doing the probate with my husband who was the executor and helping mum put in an offer for a retirement apartment and let out her bungalow.
We have all been quite shocked at the amount of money my dad had squirreled away over his lifetime, in case he and mum had to go into a care home; all very well invested right up until just before he died. Who would now be the best person to go to for advice on minimising inheritance tax after mum goes (which I hope will not be for a long time yet!)
Do I got to a solicitor or accountant who specialises in inheritance tax?

chrismac1

Around here - Cumbria - there is a specialist Wills guy who advises on such things as how to design trusts to avoid having care home fees gobble up hundeds of thousands. I'd recommend finding someone like that near you, probably a solicitor and not an accountant.

Mikeyorks

ang01622 wrote: »

Who would now be the best person to go to for advice on minimising inheritance tax after mum goes (which I hope will not be for a long time yet!)
Do I got to a solicitor or accountant who specialises in inheritance tax?

Is the estate likely to exceed £700k on current rates? If so - head for a tax planning accountant.

Avoiding care home costs via Trusts generally doesn't work if left until after the 1st death, I'm afraid.