inheritance tax

jcton

I am 59 and have a 36 year old son who will inherit my £550,000 property when i die he and his wife are currently living with me and pay rent. Due to a recent diagnosis I will need to be cared for in approx 5 year time but my life expectance will not really be effected.

Can we get around inheritance tax by sighing my house over to him or does this not work?

Mikeyorks

You appear to have aged 27 years in the last few days? You were only 32 when you first posted just 3 days ago?

If you genuinely (a number of your earlier posts appear contradictory) will need care in 5 years ..... how are you proposing to pay for that?

Tucking_Fypo

Mikeyorks wrote: »

You appear to have aged 27 years in the last few days? You were only 32 when you first posted just 3 days ago?

If you genuinely (a number of your earlier posts appear contradictory) will need care in 5 years ..... how are you proposing to pay for that?

This guy clearly has coursework/exam and is using the forum to get answers.

sleepless_saver

The question of IHT was already dealt with in a previous thread started by the OP.