Inheritance tax question

Tom99

George65456 wrote: »

The situation is complicated, the main complication being that my wife is terminally ill and unlikely to survive me. Thanks for all your suggestions but I would appreciate a straightforward answer to my question.

[FONT=Verdana, sans-serif]In which case it will depend on your wife's assets and will.[/FONT]

Rodders53

Children? Property value passed down the line has extra IHT allowance.

This is why people here are advising you to seek professional help to draft good wills for you both giving full information to such professionals to properly advise you!

As you state you will be unlikely to pre-release your wife, the IHT aspects of you doing so are all rather academic?

xylophone

As you state you will be unlikely to pre-release your wife, the IHT aspects of you doing so are all rather academic?

I had an aunt who was terminally ill - while her husband was the same age (80) there was apparently nothing wrong with him - he died very suddenly and unexpectedly a few weeks before she did.......

getmore4less

xylophone wrote: »

I had an aunt who was terminally ill - while her husband was the same age (80) there was apparently nothing wrong with him - he died very suddenly and unexpectedly a few weeks before she did.......

I timely reminder of the need to be aware of Survivorship Clauses and Commorientes that can have unintended consequences.