Inheritance tax questions

getmore4less

Savvy_Sue wrote: »

One would have to ask first whether Mr X hadn't at some point had a Mrs X, and whether or not she was still alive, and if not was she married to Mr X at the time of her death.

If she's still alive and married to Mr X, then the simpler method is to pass some of the estate to her, and if she's deceased but was married to Mr X at the time of death, then his IHT-free zone is potentially doubled if she left up to the personal limit to him.

In any event, I'm sure that 'proper' estate planning is a safer bet than online poker, 'proper' being the kind you pay for. Indeed, I'd run the online poker idea past the 'proper' adviser and see what they say. :rotfl:

That needs clarification as it implies the nil rate band uplift is dependant on how much of the estate is left to the spouse.


The % of unused nil rate band at the time of her death gives the surviving spouse and uplift of their nil rate band of that %.

AlanF

Thanks a lot to all who posted here, even if my original thread seemed to get a bit hijacked! Between you you have educated and informed me and I'm grateful!

Thanks

Alan