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How to show house half in trust on IHT forms
MrPercent
Posts: 3 Newbie
Hi all,
Battling with the IHt forms for my late fathers estate. His wife pre-desceased him, and her half of the house is/was held in trust for her children.
How do I show the reduction in his estate, and do I need to fill in IHT418?
TIA, P
0
Comments
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What sort of trust? If this was an immediate post-death interest trust (which would be the normal option) there is no reduction as your father would have been the beneficial owner of your mother’s share. The advantage of this is that your mother’s NRBs would not have been used and can be transferred to his estate, and it avoids any CGT liability for their children.It is possible you don’t need to complete an IHT return, what is the total value of his estate including the trust?0
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