IHT - the limit

G_M

You need to sort out Probate and Inheritance tax.

The question of who lives in a property, and who inherits, has absolutley NO relevance as to whether inheritance Tax is payable or not. It sounds as though it is, but only by reading up and completing the forms will you know.

If there are really no other assets at all (unlikely!), then there are 2 options:

1) sell the property and use the cash to pay the tax, then distribute what's left
or
2) pay the tax out of a beneficiary's personal funds and keep the property. Then transfer it into the beneficiary's name.

There is lots of info and guides on what to do. I found a bbok on probate very helpful (free from my library) but online here too:

https://www.gov.uk/wills-probate-inheritance/overview